Early repayment charges apply until 31st October 2015 but overpayments of 50% 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’s fixed rate mortgages within the product range without incurring any ERC via the ‘switch ‘n’ fix’ facility. Any completion fee on the new fixed rate product will be charged but no application fee will be payable.
Robert McCoy, senior product and communications manager at PMS, said: “This product will be popular with our members who have clients looking to benefit from the current low base rate and any further rate cuts, whilst simultaneously giving them the option to switch to a fixed rate should rates start to increase during the next three years.”
Jo Leah, general manager sales and marketing at Ipswich, 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.”
