The product, which is available direct and via selected mortgage brokers, has a non-refundable application fee of £150 and a completion fee of £975.
Paul Winter, chief executive of Ipswich, said: “Ipswich Building Society led the way alongside other building societies and mutuals with its original 95% LTV mortgage in tough economic circumstances.
“We listened to our members and intermediaries then and we’re listening to them now with this new product offering.”
There are no charges for overpayments of up to 50% of the original loan amount, overpayments of 50% or above carry a charge of 3% of the overpayment.
The product has limited availability.