Partly Cloudy

Partly Cloudy

max temp: 22°C

min temp: 12°C

Search
Norfolk Business Awards 2018

Ipswich Building Society lifts standard variable interest rates

PUBLISHED: 14:53 03 January 2018

Richard Norrington, chief executive of Ipswich Building Society.

Richard Norrington, chief executive of Ipswich Building Society.

Archant

Ipswich Building Society has made changes to its savings and mortgage rates following the Bank of England’s move in November to lift its base rate by 0.25% to 0.5%.

The society’s standard variable rate for mortgages has increased from 5.24% to 5.49%, with effect from January 1 − reversing a reduction applied on October 1, 2016.

Its variable rate savings products have been individually reviewed, but with increases effective from the same date.

Richard Norrington, chief executive, said: “Ipswich Building Society operates a simple business model, balancing the money we take in from savers and that which we lend out to borrowers.

“Following the Bank of England’s announcement in November, we are implementing changes to our savings and mortgage rates in order to equally balance the interests of our members.

“We continue to support members with savings goals along with those who may wish to buy a home or remortgage but find themselves ‘mortgage misfits’, left out by the automated lenders. By using our personal approach to underwriting we are able to offer choice while retaining a diligent approach to lending.”

Search hundreds of local jobs at Jobs24

Ipswich Town fans saluted club legend Kevin Beattie with a minute’s applause at tonight’s match against Brentford.

Hundreds of knives have been taken off the streets of Ipswich in the shadow of a series of stabbings.

Ipswich’s railway station has been named the best large station in the country at the National Rail Awards.

A shoplifter who told a security officer and two other members of staff at a Suffolk store that she had AIDS after biting them has been jailed for 21 months.

A woman was left trapped following a collision with another car and an electricity pole in Sudbury.

A new supermarket chain is set to join Ransomes Europark in Ipswich, as a unit empty for seven years is finally getting a new lease of life.

The family of Ipswich Town legend Kevin Beattie have today thanked friends and fans for their outpouring of ‘amazing love and support’ since his sudden death.

Suffolk is being warned to expect high winds and a significant dip in temperatures as we near the weekend, marking the start of the real autumnal weather.

A mother has spoken of the torment caused by trespassers who snuck onto her property, moved security lights and lurked in the dead of night.

Tributes have been paid to Ipswich sports shop owner Malcolm Marriott, who has died after a lifetime of running shops in the heart of the town centre.

Show Job Lists

Most read

Topic pages

Newsletter Sign Up

Ipswich Star daily newsletter
Sign up to receive our regular email newsletter

Our Privacy Policy

MyDate24 MyPhotos24