The Ipswich Building Society has changed the completion fees on its Large Loan products from 0.5% of the total loan amount to the fixed sum of £800.
The two–year fixed rate Large Loan product is available at 3.49%, up to 90% LTV (5.3% APRC). This is available for both purchase and remortgage, including new build homes – for loans up to £750,000. It has an application fee of £199 with a 50% overpayment facility and a 3% early repayment charge until 31 August 2018.
The two-year discount rate Large Loan product is available at 3.59% (standard variable rate minus 1.90%) 5.3% APRC. Up to 90% LTV is available for both purchase and remortgage, including new build homes – for loans up to £750,000. It has an application fee of £199 with a 50% overpayment facility and a 1% early repayment charge until two years from completion date.
Borrowers who are remortgaging will also benefit from a free valuation (up to a property value of £1m) and fee-assisted legals.
This product is available direct to those living in England and Wales as well as through intermediaries in the Society’s heartland area of Essex, Cambridgeshire, Hertfordshire, Bedfordshire, Norfolk and Suffolk, and selected networks, clubs and intermediaries nationwide.
Paul Winter (pictured), CEO of Ipswich Building Society, said: “The reduction of the completion fees on our large loan products complements our recently refreshed mortgage range. This included rate reductions and refreshed end dates for nine of our existing products.
“In line with our inclusive approach to lending, the product will be available to borrowers directly or through our trusted intermediary network with affordability assessed via our manual underwriting process as we continue to offer choice to home-buyers of all shapes and sizes.”