Ipswich Building Society

Ipswich Building Society has the following types of mortgage:

• Fixed Rate
• Variable Discount
• Standard Variable Rate
• Base Rate Tracker
• Buy to Let

Fixed Rate: your rate will be fixed for an agreed period. Ipswich have 2, 5 and long term fixed rate mortgages. After your fixed period has concluded your mortgage will go back to a variable rate either set above the Bank of England base rate or the society's standard variable rate.

• There is an early repayment charge during the fixed period
• There is no charge for overpayments of up to 50% of the original loan
• Ipswich also has fixed rate deals for Shared Ownership and Buy to Let mortgages

Variable Discount: your rate will be set at a discount off a variable rate for an agreed period, which can be for 2, 4 and 10 years. After the discount period your mortgage will go back to the Society's standard variable rate.

• There is an early repayment charge during the discount period except for the 10 year product
• There is no charge for overpayments of up to 50% of the original loan
• Ipswich also offer discount rate deals for Shared Ownership

Standard Variable Rate: your rate will be set at the Ipswich standard variable rate for the entire period of the mortgage.

• There is no early repayment charge

Base Rate Tracker: your mortgage is set according to the Bank of England Base Rate for an agreed interval, after which your rate will be set 1% above the Bank of England Base Rate.

• There is an early repayment charge during the tracker period
• There is no charge for overpayments of up to 50% of the original loan

Buy to Let Mortgages: your rate is set at the Ipswich standard variable rate for the entire mortgage term.

• There is no early repayment charge

Buy to Let: long term fixed for 10 years. Then your mortgage will go back to the Society's standard variable rate.

• An early repayment charge is payable

Ipswich also have the following re-mortgage products:

• Discount
• Fee Free Discount
• Fee Free Fixed
• Fee Free Base Rate Tracker

Discount: your starting rate is set at a discount for 2 years. Then your mortgage rate will be at the Society's standard variable rate. The fee free option has no application, valuation or administration fees.

Fixed: your rate is fixed for a 2 year period. Then your mortgage rate will be set above the Bank of England Base Rate. This product has no application, valuation or administration fees.

Base Rate Tracker: your starting rate is set above the Bank of England Base Rate. After the tracker period your mortgage rate will be set 1% higher than the Bank of England base rate. This product has no application, valuation or administration fees.

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