The two-year fix comes with a completion fee of £399 and an application fee of £150.
The society previously offered a 95% LTV product but only to its members, whereas this deal is available to all borrowers.
Paul Winter, chief executive of Ipswich Building Society, says: “We believe that everyone should have the opportunity to purchase their own homes and we understand that saving for a large deposit is not a realistic option for many. As a result, we have worked hard to ensure that our portfolio of mortgage products provides access for a wide range of home buyers and those looking to remortgage.”
The product has a minimum loan amount of £50,000 and a maximum of £350,000.