The range includes a two-year fixed rate at 3.74 per cent and a five-year fixed rate at 3.99 per cent, both available up to 95 per cent loan-to-value (LTV) of the share being purchased. Alongside these deals, a two-year fixed rate at 3.25 per cent, available up to 90 per cent LTV of the share being purchased, is also being launched.
The deals come with no application, completion or valuation fees, with a maximum loan of £500,000. They are also available for both purchase and remortgage cases.
Charlotte Grimshaw (pictured), head of intermediary relations at the mutual, noted that Ipswich’s previous shared ownership range was popular, and it had been committed to returning to the sector in order to make home ownership more accessible.
She added that the massive house price growth seen over the last year, combined with fewer high LTV deals on the market than before the pandemic, meant that shared ownership was a more affordable and achievable option for would-be homeowners.
Grimshaw continued: “In particular, I’m excited about our five-year fixed rate product, which should provide borrowers with comfort and security over their mortgage repayments, offering stability over a longer time period. Additionally, as the affordability assessment for this five-year fixed rate product is calculated on product pay rate only, rather than applying a stress scenario, this will further help those looking to borrow.”
