Ipswich Building Society has reintroduced a selection of standard residential, buy-to-let (including expat buy-to-let), holiday let and £1m plus mortgages.
The reintroduced ranges 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. This news comes following the society withdrawing a number of products earlier this year to maintain service levels.
Richard Norrington, chief executive 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% LTV 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.”
This post has originally been featured in Property Wire.