The range comprises of three-year and ten-year fixed rate mortgages plus a fees-free, three-year fixed remortgage. Both the three and the ten-year deals are available for purchase or remortgage and have maximum loan-to-values of 95 per cent and 80 per cent respectively.
The ten-year fix is offered at a rate of 5.89 per cent (6.50 per cent APR) until 31 December 2014; the three-year fixed is at 5.90 per cent (6.70 per cent APR) until 31 December 2007; and the fee-free three-year remortgage is at 6.10 per cent (6.70 per cent APR) until 31 December 2007.
Paul Winter, sales and marketing director of Ipswich, said: “These mortgages are targeted at borrowers who want to be cushioned from the possibility of rises in interest rates and value the certainty of predictable mortgage payments over a longer timeframe.
“At these rates, they will be very attractive to borrowers who cannot afford significant increases in their existing monthly mortgage charges.”
London-based sole broker Roy New said: “The products seem very reasonable. The ten-year fixed is an attractive proposition for people who like to know exactly where they are and what they are faced with. Great for those wanting to steer a steady ship.”
On all three products interest is charged on a daily basis and loans can be reduced to 50 per cent of the original cost without charge. Arrangement fees can be added to the mortgage account.
