Ipswich Building Society has returned to the shared ownership mortgage market with three new products.

At up to 90% LTV, the lender is now offering a two-year fix at 3.25%, which then reverts to Ipswich’s SVR minus 1.74% until the end of February 2027.

At 95% LTV, borrowers will be able to access a two-year fixed rate at 3.74%, which also reverts to the lender’s SVR minus 1.74% until the same date as above.

It is also offering a five-year fix at 3.99% at 95% LTV.

Ipswich head of intermediary relations Charlotte Grimshaw comments: “It’s great to be back in the shared ownership market once again.

“With house prices rising faster than wages, and fewer higher LTV deals on the market than before the pandemic, shared ownership mortgages can offer a more affordable, achievable option for would-be borrowers.

“Recent research shows that nearly two thirds of first time buyers have to rely on an additional source of income when saving for a mortgage deposit.

“It’s clear this generation is working hard to fund their dreams of owning their own home, and we’re keen to support them. These new products, combined with our personal approach to underwriting, allow us to offer borrowers more choice while retaining a diligent approach to lending.”