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Added: 14 May 2015

Further boost for low deposit borrowers as
Ipswich Building Society adds to range

Focus on 'mortgage inclusion' supports younger generations

house
Ipswich Building Society is continuing to grow its mortgage range and has announced a trio of new discount deals to support its selection of fixed rate schemes.

A new two year 95% LTV discount mortgage is now available for purchases at a rate of, currently, 3.79% (5.3% APR). The product is available for loans up to £350,000 and offers a low application fee of £199, no completion fee, unlimited overpayments and no early repayment charge.

A two year 80% LTV discount mortgage at, currently, 2.24% (5.0% APR) has also been launched, and is available for purchases and remortgages. The product is also available for loans up to £350,000 and has a low application fee of £199, no completion fee, unlimited overpayments and no early repayment charge. Borrowers who are remortgaging will also benefit from a free evaluation and fee-assisted legals.

A new two year 95% LTV shared ownership discounted product completes the new set, currently 4.49% (5.5% APR) up to a maximum loan size of £350,000 and available with an application fee of £199, no completion fee, unlimited overpayments and no early repayment charge.

As in all cases of mortgage applications, Ipswich Building Society will apply its manual underwriting process to give a fair assessment of affordability. An alternative to the 'computer says no' approach of some high street lenders, the Society will consider the case of those it classes as 'mortgage misfits', including self-builders, younger and older generations and the self-employed.

Paul Winter, CEO of Ipswich Building Society, commented on the latest additions: "We're continuing to offer choice to home-buyers of all shapes and sizes, and these latest products may provide comfort to aspiring younger home-owners with low deposit saving but acceptable levels of affordability."

Borrowers can access more information about Ipswich Building Society's new mortgage range at http://www.ibs.co.uk/mortgages or by calling 0330 123 0773.