A new two year 95% LTV discount mortgage is now available for purchases at a current rate of 3.79% (5.3% APR). The product is available for loans up to £350,000 and offers a low application fee of £199, no completion fee, unlimited overpayments and no early repayment charge.
A two year 80% LTV discount mortgage at 2.24% (5.0% APR) has also been launched, and is available for purchases and remortgages. The product is also available for loans up to £350,000 and has a low application fee of £199, no completion fee, unlimited overpayments and no early repayment charge. Borrowers who are remortgaging will also benefit from a free evaluation and fee-assisted legals.
A new two year 95% LTV shared ownership discounted product completes the new set, currently 4.49% (5.5% APR) up to a maximum loan size of £350,000 and available with an application fee of £199, no completion fee, unlimited overpayments and no early repayment charge.
As in all cases of mortgage applications, Ipswich Building Society will apply its manual underwriting process to give a fair assessment of affordability, considering the cases of those it classes as 'mortgage misfits', including self-builders, younger and older generations and the self-employed.
Paul Winter, CEO of Ipswich Building Society, commented:
"We're continuing to offer choice to home-buyers of all shapes and sizes, and these latest products may provide comfort to aspiring younger home-owners with low deposit saving but acceptable levels of affordability."
