Ipswich BS set to offer buy to let mortgages again.
The choice in the buy to let mortgage marketplace is widening, as Ipswich Building Society returns to offering purchase and remortgage loans for landlords.
For property values of up to £500,000, the details are:
- 2 year fixed mortgage rate of 3.39% for up to 75% LTV
- 2 year discounted rate of 3.44% (SVR 5.24%) for up to 75% LTV
Both loans include the option of making over-payments of up to 50%. ERC’s of 3% apply in the event of the borrower switching within the first 2 year period. Other fees also apply, depending on whether the loan is for purchase or remortgage.
Ipswich is one of a number of lenders on the market that considers each applicant individually, and underwrites on that basis. Their philosophy is that every borrower is unique, and a more flexible approach should be taken when it comes to loan approvals.
Deal Direct has over a decade’s experience in sourcing great mortgage deals for landlords. For expert advice and the best choice of loans from across the UK, look no further than Deal Direct.
Please be aware that we are regulated to offer independent mortgage advice; however, we are not regulated to offer general financial advice. If you want to discuss the suitability of property as an investment, you will need to contact an independent financial adviser.
Also note that buy to let mortgage applications from:
- applicants whose intention is to benefit from house price growth
- applicants whose intention is to benefit from rental income
- applicants who are letting to buy
will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.
Contact us today on 0800 048 8828.
