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Ipswich Building Society launches buy-to-let and credit repair deals

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  • 18/06/2018
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Ipswich Building Society launches buy-to-let and credit repair deals
Ipswich Building Society has launched two five-year buy-to-let deals and introduced three fixed-rate products for credit repair borrowers.

The buy-to-let products will be available to direct customers across England and Wales through selected intermediaries, for purchase and remortgage applicants borrowing up to £500,000.

These include a five-year fixed rate at 3.50% up to loan to value (LTV) of 80%.

The society has also launched an expat buy-to-let five-year fixed rate at 4.15% at 75% LTV.

At the same time, Ipswich Building Society has expanded its dedicated range and launched three fixed rate products for borrowers who require credit repair.

They are available for purchase and remortgage for borrowers with increasing tiers of credit repair, through the society’s panel of prestige intermediaries and via selected broker partners.

The deals include a near prime two-year fixed rate at 3.50%, a feather prime two-year fixed rate at 3.75% and a credit recovery three-year fixed rate at 4.50%.

All have an application fee of £199, a completion fee of £800, a CHAPS fee of £35 and a tiered valuation fee based on property value.

Ipswich Building Society CEO, Richard Norrington said: “These new deals have been implemented to support diversity in the mortgage market where there are limited options for borrowers who may not fit the requirements of some computer-based mortgage application processes, often employed by high-street lenders.

“We are confident that these enhancements to our mortgage range will boost our competitiveness and appeal to a wider range of customers.”

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