Ipswich Building Society has created a self-build mortgage hub for intermediaries and repriced its self-build products.
The hub — which hosts the building society’s entire library of self-build content — is designed to offer expert advice on the self-build mortgage market and aims to make it easier for intermediaries to support their clients.
A collection of guides, downloads and a step-by-step process detailing how to submit a self-build mortgage case are also available in the hub.
Richard Norrington, CEO at Ipswich Building Society, said: “We have amassed a wealth of experience in self-build cases over the years, and today, one in 20 of the mortgages currently on our books is a self-build loan, with projects spanning across England and Wales.
“Self-build is an increasingly popular market, with more people seeking to build from scratch or make large-scale renovations to suit their family circumstances and requirements.”
Ipswich Building Society has also reduced the self-build product’s interest rate, which is now available at the society’s SVR (currently 5.74%) minus 1.75%, giving a current interest rate of 3.99%.
“With around one in five self-build cases coming in straight from intermediaries themselves, we’re keen to do more to directly support them with their self-build clients,” added Kate Ley, head of mortgage sales (pictured above).
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