Ipswich Launches New Self-Build Mortgage

Prospective home builders could now finance their projects through a new self-build mortgage product.

Ipswich Building Society recently introduced the self-build loan, which offers a two-year discount and a penalty-free early repayment facility of 50%.

Available to those embarking on new builds, conversions and knock-down and rebuild projects, the mortgages are accessible to both purchase and remortgage customers.

Measured at the Society’s Standard Variable Rate of 5.49%, the product includes a discount of 1.39%, applicable for two years from completion. This makes the effective interest rate 4.1%.

Read more: Find the right mortgage funding for your project

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