Ipswich Building Society launches two new buy-to-let loan products

Richard Norrington, chief executive officer of Ipswich Building Society.

Richard Norrington, chief executive officer of Ipswich Building Society. - Credit: Archant

Ipswich Building Society has added to its buy-to-let range with the launch of two new low loan, low fee products.

They are aimed at buy-to-let borrowers looking to purchase or remortgage a property with a smaller loan of up to £150,000.

Both products also have a minimum loan size of £75,000, and enable borrowers to repay without penalty up to 50% of their original loan amount while in the fixed rate period.

The new loans offer the same fixed rates as the Society’s main range, but have a reduced completion fee.

CEO at Ipswich Building Society, Richard Norrington, said the loans “will provide new options to those seeking a low loan deal.

He added: “The smaller fee size is a further benefit, which will make the products more attractive to a new variety of borrowers including those remortgaging from other lenders and wishing to take advantage of transitional arrangements”.