Ipswich Building Society in tie-up with PMS
The senior product and communications manager for PMS said the product would be popular with those clients who are looking to benefit from the low base rate and any further cuts.
He said: “It will also give them the option to switch to a fixed rate should rates start to increase during the next three years.”
The 3.99 per cent three year tracker rate product is available for loans up to 80 per cent LTV across England and Wales for both purchasers and remortgagers. While early repayment charges apply until 31st October 2015, overpayments of 50 per cent of the original loan amount are allowed within this period. Remortgage customers also receive a free valuation and standard legal fees paid.
Borrowers will also have the option to switch to any of Ipswich Building Society’s fixed rate mortgages within the product range without incurring any ERC through the ‘switch ‘n’ fix’ facility. Any completion fee on the new fixed rate product will be charged but no application fee will be payable.
Jo Leah, general manager sales and marketing at Ipswich Building Society added: “This new tracker product reinforces our longstanding relationship with PMS.
“I am sure that PMS members will appreciate our individual approach to underwriting and engaging with our dedicated team who aim to provide a more human approach to mortgages.”