Added: Friday 1 August 2014
Ipswich Building Society launches 3.09% fixed mortgage product for remortgages
Overall cost for comparison 5.2% APR
Fee assisted legals available
Ipswich Building Society has launched a competitive two year fixed rate 85% loan-to-value product for re-mortgages. This complements the recent launch of Ipswich's equivalent rate fixed rate product for purchases. Available for remortgages only, the overall cost for comparison is 5.2% APR, with an initial two year fixed rate of 3.09% until 31st October 2016, reverting to the Society's Standard Variable Rate, currently 5.49%.
The product is available directly for those living in or moving to and via intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Herefordshire.
Michelle Stevens, Ipswich Building Society, Head of Mortgage Sales, commented:
"We continue to offer a viable alternative to the larger banks as demonstrated by the launch of these competitive fixed rate mortgages for remortgage and purchase. We're open for business for those looking for a potentially better deal on their mortgage, as well as remaining committed to supporting so called 'mortgage misfits' such as small business owners and the self-employed.
Criteria applicable to the product:
- Fixed until 31st October 2016, subsequent variable rate 5.49%, with an overall cost for comparison 5.2% APR
- Free valuation, the product is available immediately but with limited availability
- Application fee, payable with application and non-refundable £150
- Completion fee £849
- No charge for overpayments of up to 50% of original loan amount. Early repayment charge period ends 31st October 2016
- Maximum loan amount £500,000