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Choose a mortgage term

At Ipswich Building Society we offer a range of different mortgage products on fixed or variable terms across both
two and three year periods.

We also provide longer term mortgage products containing fixed, variable or tracking rates.

What is a fixed rate mortgage?

A fixed rate mortgage is purely a means of obtaining set mortgage payments over an initial period. (As noted above, Ipswich Building Society generally offers fixed rate mortgages over either two or three years, although we may from time to time offer different fixed rate mortgages). Once the fixed rate period ends, your mortgage payments will then go onto our standard variable rate (SVR).

During the fixed rate period, your mortgage payment will remain the same and will not be changed either by us or following a Bank of England base rate change. This is unlike variable mortgage interest rates that may be changed by the lender or following and Bank of England base rate change. A fixed rate mortgage means that you’ll know exactly how much you’ll be paying every month during the initial term.

What are the benefits to having a fixed rate mortgage?

  • As noted above, the main benefit to fixed rate mortgages is that they allow you to know exactly how much your mortgage will cost during the initial fixed period. It therefore allows you to plan your finances with more certainty.
  • If mortgage interest rates rise during the fixed term, your mortgages payments will not increase. As a result, substantial savings can be made.
  • If mortgage interest rates decrease during the fixed term then your mortgage payments will not decrease.

Fixed rate mortgages are ideal for those that like to know exactly what they’re going to pay, and when.

Why choose Ipswich Building Society for your fixed rate mortgage?

  • We have over 160 years of experience in providing mortgages and services all over the East of England. Whatever your situation, we can work with you to get the best results.
  • We provide a genuinely personal service. We’re an independent mutually-run organisation, which means we work for our members, not shareholders.
  • We are reliable. We’ve continued to prosper through variable economic times and can offer you long-term stability.
  • We allow you to make over payments of up to and including 50% of your mortgage product without paying an early repayment charge.

If you’d like to find out more about obtaining a fixed rate mortgage with Ipswich Building Society, get in touch today by giving us a call on 0330 123 0773.

  • for 2 years

    Our 2 year fixed rate mortgages are perfect for those people that want to have their monthly expenses planned out in advance during the next couple of years. We also offer the flexibility of overpaying your mortgage up to and including 50% of your mortgage product without incurring an early repayment charge.

Your home may be repossessed if you do not keep up repayments on your mortgage