Ipswich Building Society mortgage review
Ipswich Building Society provides a huge range of mortgages, including deals aimed at first-time buyers, landlords and the self-employed. Here's what you need to know.
Its range includes mortgages for first-time buyers, older buyers, expats and the self-employed. What’s more, there are buy-to-let mortgages, self-build mortgages and a selection of remortgaging deals.
On most mortgages, there is no charge for overpayments up to 50% of the loan amount. Most deals come with a completion fee, application fee, valuation fee and money transfer fee.
If you’re overwhelmed by the amount of available offers, the building society offers a mortgage consultancy service to help you.
Compare Ipswich BS mortgages
If you borrow £170,000 over a 25-year term at 1.75% p.a. (fixed) for 62 months reverting to 4.74% p.a. (variable) for the remaining term, you would make 62 monthly payments of £700.04 and 238 monthly payments of £912.95. The total payable would be £261,424.58, which includes interest of £90,685 and a product fee of £495. The overall cost for comparison is 3.6% APRC representative.
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What types of mortgage does Ipswich Building Society provide?
How do I apply for an Ipswich Building Society mortgage?
You can apply for an Ipswich Building Society mortgage by calling its team on 0330 123 0773 or by visiting one if its nine branches across Suffolk.
If necessary, the lender’s mortgage consultants will help you choose the most suitable deal for you.
For the application process, you’ll need to provide basic personal details and detailed financial information.
What information do I need to supply?
You need to provide personal details, proof of deposit and proof of income and outgoings. The lender will need to see payslips and recent bank statements.
Before you begin your application, you’ll be asked to confirm that you meet the following eligibility criteria:
- You must be aged 18 or over.
- The property must be based in England and Wales.
Approval for an Ipswich Building Society mortgage will be based on the results of a credit check.
All freehold properties in England and Wales will be considered (except flats and maisonettes). Leasehold properties must have at least 85 years left on the lease at the time of application to be considered.
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