Ipswich Building Society has chopped the interest rates on three of its mortgage products.

The mutual’s two-year discount deal up to 90% loan-to-value, formerly at 2.79%, has been cut to 2.59%, available for purchase and remortgages up to £350,000. The product has an application fee of £199, a £800 completion fee, 50% overpayment facility and 1% early repayment charge until two years from completion date.

The Ipswich’s two-year fix at up to 90% LTV has been cut from 3.09% to 2.89%, also available for purchase and remortgage loans up to £350,000.

An additional two-year fixed rate, this time for large loans, is available at 3.75% down from 3.95% and up to 90% LTV.

Paul Winter, CEO of Ipswich Building Society, said: “We’re continuing to offer choice to homebuyers of all shapes and sizes, and these latest product updates may provide comfort to aspiring younger homeowners with low deposit savings but acceptable levels of affordability. We’ve also refreshed our larger loan mortgage products in response to the high demand.”