Ipswich BS reduces BTL rates

Ipswich Building Society has cut the rates and fees on its existing buy-to-let five-year fixed rate products .

There is a five-year deal available at 3.75% at 80% loan-to-value (LTV) with a completion fee of £950 and an expat buy-to-let available at 3.99% and 75% LTV with a completion fee of £999.

Ipswich BS has also launched a five-year fixed rate product at 3.5% with a completion fee of £999, available to those looking to borrow up to 75% LTV

Richard Norrington, CEO at Ipswich Building Society, commented: “By recognising buyers’ demand for longer-term mortgage products at this time, and adjusting our rates to reflect this, we are pleased to offer our borrowers stability with regards to their monthly mortgage commitments.

“Landlords, including those based overseas, and older borrowers often have an unusual set of circumstances or changing lifestyles and incomes.

“Our manual underwriting approach, which sees real people making the decisions about affordability, allows us to assist borrowers who may otherwise be denied access by the automated approach deployed by some mortgage lenders.”

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