We’re currently working on our BTL calculator in light of our recent criteria changes. We hope to have this back up and running soon but if you need any help in the meantime, please contact your BDM or the Helpdesk on 0330 123 1073.

Later Life Range – New 5 Year Discount Rate

Written by Ipswich Building Society

25 Oct 2018


Five years, Interest only, Later life, Older borrowers, Remortgage, Residential mortgages

2 min read

We've launched a new 5 year discount rate for your later life clients aged 50+, in addition to our existing 2 year fixed and discount options.

This new product offers:

  • Current pay rate 3.25% (SVR minus 2.49% for 60 months from completion)
  • Up to 75% LTV for £500k. App fee £199, Completion fee £500
  • For remortgages free valuation (max property value £1m) and fee assisted legals.
  • ERC applies until 3 years from completion date (remaining 2 years ERC free).
  • During ERC period: fee free overpayments up to 50% of original loan amount. ERC for payments >50% applies whilst in discount period at 2% of the overpayment. For early redemption a 2% charge will apply based on the original loan amount.

If you have clients seeking to purchase or remortgage, don't forget we accept 100% of pension and 75% of investment income, with a maximum term of 40 years and no maximum age. On an Interest Only basis we're able to lend up to 50% LTV (£150k equity required), and on Capital & Interest up to 70% LTV or 75% if loan finishes before retirement.

Consider us for your later life clients who want:

  • A mortgage where sale and downsize is repayment method.
  • To borrow for home improvements or to buy an additional property.
  • To remortgage to assist family, i.e. gifted deposits.

We also consider debt con, so give us a call to discuss your case on 0330 123 1073.

View our range of later life mortgages here.

This article was published under our previous name of Ipswich Building Society. We changed our name in 2021 – get in touch if you have any questions.

Found this useful? Why not share

Your browser is out-of-date.

This site is not fully supported in Internet Explorer.
Please download one of the browsers below to continue using this website.

  • Google Chrome
  • Microsoft Edge