Sunshine and Showers

Sunshine and Showers

max temp: 7°C

min temp: 3°C


Products designed to increase choice for borrowers aged 50 plus

PUBLISHED: 10:17 07 June 2018 | UPDATED: 13:13 07 June 2018

retirement pics

retirement pics


Ipswich Building Society launches new `later in life’ mortgages, with no upper age limit.

Ipswich Building Society has introduced a new mortgage range for those borrowing into later life, with both discount and fixed rate deals, specially tailored to the needs of those aged 50 and upwards, with no maximum age restriction and up to a 40 year term.

Loans are also available on an interest only basis up to 50% Loan To Value (LTV) providing there is a minimum of £150,000 equity in the property.

Since the implementation of the Mortgage Market Review (MMR) in 2014, borrowers in their mid-forties and above have had a reduced choice of mortgage products in the UK. This, coupled with updates to state pension and retirement laws, has significantly changed the borrowing patterns of the older population.

With a demand for better choice, Ipswich Building Society has launched three new products to help increase options and accessibility for older borrowers.

The following products have been launched and will be available to direct customers across England and Wales and through selected intermediaries, for purchase and remortgage applicants:

A 2 year discount rate at the Society’s Standard Variable Rate (currently 5.49%) minus 3.14%, giving a pay rate of 2.35% for two years from the completion date (5.2% APRC*), with a completion fee of £500.

A 2 year fixed rate at 2.75% until 30 September 2020 (5.1% APRC*), with a completion fee of £500.

A 5 year fixed rate at 3.50% until 30 September 2023 (4.8% APRC*), with a completion fee of £500.

More details from Ipswich Building Society.

Search hundreds of local jobs at Jobs24

A ground-breaking tech company that recently relocated from Cambridge to Suffolk has been working with University of Essex researchers on technology designed to make our online data safer.

From its ‘Go Bananas’ HQ in Bury St Edmunds, this forest advanture company now employs more than 1,000 people across the UK and the US.

Here is a chart of the top 100 companies in the county. Find out which sectors have fared best and worst.

Staff at Tendring District Council-run leisure centres have rowed, swum and hiked hundreds of miles in aid of Children in Need, with more than £2,700 raised.

Colchester Council employees look set to benefit from a rise in the Living Wage, after the Living Wage Foundation recommended an increase on November 5, 2018.

Management Jobs

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Sign up to the following newsletters:

Sign up to receive our regular email newsletter

Our Privacy Policy

MyDate24 MyPhotos24