Ipswich Building Society Ipswich Building Society
Ipswich Building Society was established in 1849. Today Ipswich Building Society is an independent and mutual organisation, and it has eight branches and six agencies across Suffolk and North Essex.

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.