Added: 1 June 2016
Ipswich Building Society refreshes mortgage range
Reduced rates designed to provide further support to mortgage misfits
Ipswich Building Society has reduced rates for nine of its mortgage products, available to direct applicants, selected networks and clubs and intermediaries in its heartland area.
The Society has reviewed rates for many of its existing products, reducing these by 0.10% – 0.30%, and refreshed some end dates and early repayment charges. The review serves as a reminder of Ipswich Building Society’s commitment to supporting mortgage misfits – those who find themselves otherwise overlooked by high street lenders – with these lower rates available for shared ownership, large loan, self-employed and contractor applicants.
Refreshed rates:
2 Year Fixed Rate at 2.69% (90% LTV) | Reduced by 0.20% (previously 2.89%) End date and ERC period changed to 31 August 2018 |
| 2 Year Fixed Rate at 4.09% (95% LTV) | Reduced by 0.30% (previously 4.39%) End date and ERC period changed to 31 August 2018 |
| 2 Year Discount Rate currently at 3.69% (95% LTV) | Reduced by 0.10% (previously 3.79%) |
| Large Loan 2 Year Fixed Rate at 3.49% | Reduced by 0.26% (previously 3.75%) End date and ERC period changed to 31 August 2018 |
| Shared Ownership 2 Year Discount Rate currently at 4.29% | Reduced by 0.20% (previously 4.49%) End date changed to 2 years from completion date. Early Repayment Charge: fee free overpayments up to 50% of original loan. For overpayments in excess of 50% the ERC is 1% of the overpayment until 2 years from completion date |
| Shared Ownership 2 Year Fixed Rate at 4.69% | Reduced by 0.30% (previously 4.99%) End date and ERC period changed to 31 August 2018 |
| Self Employed Specialist 2 Year Discount Rate currently at 3.29% | Reduced by 0.30% (previously 3.59%) Early Repayment Charge: fee free overpayments up to 50% of original loan. For overpayments in excess of 50% the ERC is 1% of the overpayment until 2 years from completion date |
| Self Employed Professional 2 Year Discount Rate currently at 3.69% | Reduced by 0.30% (previously 3.99%) Early Repayment Charge: fee free overpayments up to 50% of original loan. For overpayments in excess of 50% the ERC is 1% of the overpayment until 2 years from completion date |
| Contractor 2 Year Discount Rate currently at 3.69% | Reduced by 0.30% (previously 3.99%) Early Repayment Charge: fee free overpayments up to 50% of original loan. For overpayments in excess of 50% the ERC is 1% of the overpayment until 2 years from completion date |
Paul Winter, CEO of Ipswich Building Society, commented on the revised product range: “As with all mortgage applications we apply a manual underwriting process to give a fair assessment of affordability, and offer an alternative to the ‘computer says no’ approach used by many high street lenders. Our inclusive approach to lending means we will continue to innovate, refreshing our range to allow access to the widest possible group of borrowers and continuing to meet the needs of mortgage misfits.”
Borrowers can access more information about Ipswich Building Society’s mortgage range at www.ibs.co.uk/mortgages/products or by calling 0330 123 0773.
Intermediaries can visit www.ipswich-intermediaries.co.uk/products or call 0330 123 1073.