As part of the announcement, the two have launched of an exclusive shared ownership product.
With a free valuation, the 1.10 per cent discount off the standard variable rate until 31 December 2008, makes a current pay rate of 5.55 per cent.
Ipswich can lend up to 100 per cent of the purchase price. Interest is calculated on a daily basis and borrowers can overpay up to 50 per cent per year but early redemption charges are set at 3 per cent until 31 December 2008. There is a £250 arrangement fee.
This product is also available for applicants purchasing under the Homebuy scheme and you can borrow 75 per cent of the purchase price or valuation, whichever is lower.
Paul Winter, sales and marketing director with the Ipswich Building Society, said: "We are delighted to be teaming up with Mortgage Intelligence. Combining our strength in competitive products and first class service with the excellent distribution network of Mortgage Intelligence will, I am sure, be of great benefit to both of the organisations, intermediaries and borrowers."
Sally Laker, managing director of Mortgage Intelligence, said: "The difficulties faced by first-time buyers getting on to the housing ladder are well publicised. It is great to be supporting the affordable housing initiative with the Ipswich who is well known for their expertise in this area."
