Ipswich Building Society is reintroducing products within its standard residential, buy-to-let, expat buy-to-let and holiday let ranges.
This includes residential deals at 85% loan to value (LTV), as well as reinstating lending on properties worth over £1m, subject to maximum LTV and loan size.
All products are available to direct applicants in England and Wales and intermediaries either located in the Society’s heartland area or members of selected networks and clubs.
Residential rates at 85% LTV include a two-year fix at 2.99% and a two-year discounted SVR with a current pay rate of 2.60%, both available on a maximum loan of £500,000 with a £199 application fee and £800 completion fee.
A two-year discounted buy-to-let rate is available at 2.99% up to 80% LTV with a minimum loan of £75,000, a maximum loan of £500,000, an application fee of £199 and a completion fee of £950.
Expat buy-to-let products include a two-year discount rate at 3.25% and a five-year fix at 3.80%, both available up to 80% LTV on a maximum loan of £750,000 with a £999 completion fee.
Holiday let mortgage products include a two-year fixed rate at 3.25%, a two-year discount rate at 2.99%, and a five-year fix at 3.75%.
All holiday let mortgages are available at 80% LTV, with a maximum loan of £500,000, an application fee of £199 and a completion fee of £950.
Richard Norrington, CEO at Ipswich Building Society said. “We’ve been keeping a keen eye on the market and taken careful consideration over the appropriate time to re-enter. It is important we introduce and maintain a suitable range of products which enable us to uphold our service standards.
“We’re particularly pleased to be offering 85% loan-to-value residential mortgage products as part of a stepped re-entry into the higher LTV market, with a view to returning to 90% lending in the future. We especially hope to be able to help first time buyers, many of whom have had their plans put on ice during the pandemic instead of realising their property-ownership dreams.”