Skip to main content

Ipswich reports increased interest in 50% overpayment facility

21 July 2017

Ipswich
Ipswich Building Society logo

The Ipswich, which offers fee free overpayments of up to 50% on all mortgage products, has reported increased interest in this facility. A standard feature amongst the Ipswich’s range, heightened awareness has seen it become a recent hot topic of conversation for broker enquiries whose clients are looking for the flexibility to either make regular overpayments or pay off a lump sum. 

Michelle Stevens, Head of Mortgage Sales, explained “we’ve offered this facility for a number of years now, which is amongst the most generous in the marketplace and offered on both our fixed and discount rate across our product portfolio – including Buy to Let.” 

Andrew Sadler, Business Development Manager, added “over the past month, a third of broker enquiries have focused on the overpayment aspect; most are surprised to learn this is not a new offering. Interestingly they have reported that whilst clients may not be in an initial position to make overpayments, it is the flexibility which appeals.” 

The 50% overpayment allowance is calculated on the original loan amount. For more information, see http://www.ipswich-intermediaries.co.uk 

Plus back by popular demand are their 5 Year Fixed Rates

Almost 1 in 5 of our applications in June were for our five-year products, and we sold out quicker than we expected. Following on from this initial success, we are pleased introduce a new range of products. 

For their five-year fixed rate products, affordability is calculated on product pay rate only - helping your clients with the amount they are able to borrow.  

Residential - available up to 90% LTV (Max loan £500k)

Buy to Let - available up to 75% LTV (Max loan £500k)

Shared Ownership - available up to 95% of the share (Max loan £350k) 

Application fee £199, completion fees vary by product.Forremortgage applicants, feeassistedlegals and free valuation (up to max property value £1m).


Using an Ipad

Follow us on twitter

Follow Jeremy Duncombe for market and product updates on Twitter. You'll find him at @JeremyDuncombe.