Cut price fixed mortgages from Ipswich

Ipswich Building Society introduces two new fixed rate deals

Ipswich launches two new fixed-rate deals

(PRWEB) August 19, 2003 -- Ipswich Building Society has introduced two new fixed-rate products offering borrowers a fee-free two-year fixed remortgage and a two-year fixed mortgage.

The fee-free remortgage is offered at 4.5% (5.3% APR) and expires on October 31, 2005, as does the two-year fixed mortgage at 4.05% (5.4% APR). The fees-free product includes a free valuation, legal fees paid, or 250 cashback.

There are no extended tie-ins on either product launched by the mutual lender. Both are available up to a loan-to-value of 80% and have a maximum advance of 350,000.

Joanna Leah, Marketing Manager at Ipswich Building Society, said: These two products represent very good value to borrowers given the fact that the cost of longer-term money is increasing. There are not many mortgages that offer these fixed periods at lower rates without extended tie-ins and with an 80% LTV."

A redemption fee of 3% of the original advance is charged if either loan is redeemed or reduced to less than half its original value within the fixed-rate period. There is an arrangement fee of 250 for the 4.05% fixed rate mortgage. Both products are free of higher lending fees.

Existing borrowers moving home or anyone who has had a savings account with the Society for more than six months, and who does not currently have a mortgage with the Society, qualifies for a free standard mortgage valuation and no application fee is payable.

Press Contacts

Joanna Leah, Ipswich Building Society, tel: 01473 211021

Cormorant PR, tel: 01883 371753

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