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Ipswich Building Society – Base Rate Tracker

Ipswich Building Society

Base Rate Tracker

Type: Discounted-rate tracker mortgage

Discounted term: Until May 31, 2007

Discount: 1%

Payable rate: 4.75%

Tracker term: Lifetime of loan

Tracker rate: 1% above Bank of England base rate
Minimum loan: 25,000

Maximum loan: Up to 95% of valuation subject to a maximum of 350,000

Income multiples: Existing borrowers up to 3.75 times principal income or three times joint, new borrowers up to 95% of valuation up to 3.25 times principal income plus second or 2.6 times joint, up to 75% of valuation – up to 3.5 times principal income plus second or 2.75 times joint

Arrangement fee: 495 plus 50 application fee
Conditions: Capital repayments of up to 50% allowed without penalty within tracker term

Redemption fee: 3% of amount repaid if mortgage is redeemed or reduced to half the original amount
Introducers fee: 0.4% of original loan

Tel: 0845 230 9696

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