Ipswich BS expands later life offering

The five-year fixed rate later life product is available up to 75% LTV at 3.50% with a completion fee of £500.

Five-year buy-to-let deals are now available at 3.75% up to 80% LTV with a £950 completion fee.

An expat buy-to-let product is also available at 3.99% up to 75% LTV with a £999 completion fee.

The deals are available from five to 40 year terms up to a maximum loan of £500,000 and have an application fee of £199, CHAPs fee of £35 and a tiered valuation fee based on property value.

For standard buy-to-let and later life remortgage applications, there is a free valuation (up to property value of £1m) and fee assisted legals.

Richard Norrington, CEO pf Ipswich Building Society, said: “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.”