Due to record levels of mortgage applications the Society has temporarily withdrawn all mortgage products to allow us to maintain our service levels.
We will relaunch mortgage products as soon as the backlog of applications have been processed.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Ipswich Building Society - Winner of Best Regional Building Society - What Mortgage Awards 2010
• Maximum term of 25 years
• Maximum portfolio 10 properties, 4 with Ipswich Building Society including new application
• 100% rental cover required on existing portfolio. 125% rental cover required on new application
• Total loan to individual/joint borrowers with Ipswich Building Society not to exceed £500,000
• Minimum loan for buy to let is £50,000.
Requirements:
• No new build flats, studio flats, ex-local authority flats/maisonettes, flats above 5 storeys or flats above commercial property
• Properties must be let on an approved Assured Shorthold Tenancy
• Properties must not be houses in multiple occupation (HMOs) which require licensing
• Letting must be on an unfurnished basis
• The let will be to an individual (includes couples and families) but not to a company or business
• The buildings insurance policy must be in joint names with the Society and provide a minimum of £1,000,000 public liability
cover
• DSS tenants, multi-lets and student lets are not acceptable.
• Currently or have previously owned their own home
• Be a UK resident
• Not be in arrears with any mortgage they currently have
• Be in receipt of income from employment/self employment, pension or investment.
For additional information on our mortgage packages and lending criteria, click here.
