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Ipswich mortgage tracks the base rate for two years

Ipswich Building Society is introducing a tracker mortgage which matches the Bank of England base rate for two years.

The product follows base rate, currently standing at 4.75per cent, without any additional margin until May 31, 2007 and changes thereafter changes to base rate plus 1 per cent.

Minimum advance is 25,000 and maximum 350,000. There is no higher lending fee on loans up to 90 per cent LTV but loans from 90 to 95 per cent LTV incur an individually calculated charge for the portion of the loan over 80 per cent.

There is a 495 completion fee. Interest is charged on a daily basis. There is an early repayment charge of 3 per cent if the loan is redeemed or reduced to half the original advance before the end of the fixed two years. A free valuation is also on offer.

Sales and marketing director Paul Winter says: “We expect this to achieve high ranking from many of the best-buy tables because it offers an ultra-low rate without any smoke and mirrors.”


Preferred announces new core range

Preferred announces its new core range with enhancements including increased discounts and reduced loadings. Changes have been made across the product range from near prime through to unlimited adverse.The new products include a range of increased discounts up to 2 per cent until June 1 2006, no remortgage loading up to 75 per cent LTV […]

E-commerce to hit 3.2bn by 2009

IFAs will be transacting 3.2 bn of business electronically by 2009, according to The Exchange’s 2005 technology index.

Elderstreet announces 15m share offer

Elderstreet, the venture capital fund manager, has launched a C share issue to raise an additional 15m for the Elderstreet VCT.In addition to standard income tax relief, after three years, C share investors will receive a 30p return for every 1 invested. This is in addition to any other investment gains and is subject to […]


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