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Buy to Let

We offer a range of mortgages for properties that will be let out to tenants.

The mortgage

  • BTL mortgages must be for at least £75,000
  • BTL mortgages are for a maximum term of 25 years.

The applicant

  • Our BTL products are aimed at those with smaller portfolios rather than commercial investors. We only allow BTL borrowers to have three properties with us, including the one being applied for, and no more than three properties within the total portfolio.
  • The total amount we lend to individual or joint borrowers cannot be more than £500,000
  • For our standard products, with fixed period of less than 5 years there must be minimum 145% rental cover against the monthly mortgage payment stressed at a rate of interest of either the Product Rate +2% or a minimum rate of 5.5%. For fixed rate products where the fixed product period is 5 years or longer, there must be 145% rental cover against the monthly mortgage payment based upon the payrate, no additional stressing is required.
  • The applicant must:
    • own their own home, or have done so before
    • live in the UK
    • not be in arrears with any other mortgage
    • have income of at least £25,000pa from employment, self-employment, a pension or investments. For joint applicants, one applicant must have this income.

The property

  • We can't offer BTL loans for some property types: new-build flats, studio flats, ex-local authority flats/maisonettes, flats above five storeys or flats above commercial property
  • The property must be let unfurnished, on an approved assured shorthold tenancy, to an individual, couple or family rather than a company
  • We can't offer BTL loans for houses in multiple occupation (HMOs) that require licensing, DSS tenants, multi-lets or student lets

For more information on buy-to-let mortgages, please see our lending criteria.

Buy To Let 3.10% 2 Year Discount Rate 75% LTV

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  • VARIABLE RATE currently 5.49% with a discount of 2.39% until 2 years from completion date then changing to Ipswich Standard Variable Rate (currently 5.49%)
  • 5.3% APRC
  • Available to direct applicants in England and Wales and selected intermediary partners.
  • For our Intermediary partners, products are available to Prestige members, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage):

A mortgage of £350,000.00 payable over 25 years initially on our Standard Variable Rate currently at 5.49% with a discount of 2.39% for 24 months, giving a current rate payable of 3.10%, then on our Standard Variable Rate for the remainder of the mortgage term would require 24 monthly payments of £1,684.40, followed by 276 monthly payments of £2,122.62.          
The total amount payable would be £628,240.96 made up of the loan amount plus interest (£276,296.96), an application fee of £199, a completion fee of £1,300, a valuation fee of £315, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.                 
The overall cost for comparison is 5.3% APRC representative.  
[This representative example is based on assumptions that the loan would start from 1 January 2018]

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£1300 £199 Based on property valuation - £35 £500k
  • No charge for overpayments of up to 50% of original loan amount
  • Early repayment charge period ends 2 years from completion date
  • Overpayment of 50% or above - early repayment charge is 1% of the overpayment
  • Redemption - early repayment charge is 1% of the original loan amount

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

This product is exclusively available to Ipswich Building Society Prestige intermediaries and selected intermediary partners.

To see all of our current mortgage products, please download our mortgage product rate guide.

Please note our rate guide is an Excel document. Click here to download Excel Viewer from Microsoft, where you can open, view and print Excel documents even if you don't have Excel installed.


Buy To Let 2.95% 2 Year Fixed Rate 75% LTV

About
Fees
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  • FIXED RATE of 2.95% up until 31 December 2019 then changing to Ipswich Standard Variable Rate (currently 5.49%)
  • 5.2% APRC
  • Available for direct applicants in England and Wales and selected intermediary partners
  • For our Intermediary partners, products are available to Prestige members, selected partners nationally and all intermediaries based in Suffolk, Norfolk, Essex, Cambridgeshire, Bedfordshire and Hertfordshire. Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage.

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage):

A mortgage of £350,000.00 payable over 25 years initially on a fixed rate until 31 December 2019 at 2.95%, and then on our Standard Variable Rate currently at 5.49% for the remainder of the mortgage term would require 25 monthly payments of £1,656.95 followed by 275 monthly payments of £2,118.86. The total amount payable would be £626,061.42 made up of the loan amount plus interest (£274,117.42), an application fee of £199, a completion fee of £1,300, a valuation fee of £315, a mortgage funds release fee of £35 and a mortgage exit fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term. The overall cost for comparison is 5.2% APRC representative.     [This representative example is based on assumptions that the loan would start from 1 January 2018]

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
£1300 £199 Purchase: based on property valuation. Remortgage: FREE up to a maximum property value of £1m. For - £35 £500k

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 31 December 2019
Overpayment of 50% or above - early repayment charge is 3% of the overpayment
Redemption - early repayment charge is 3% of the original loan amount

For remortgage only: fee assisted legals

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to look at our mortgage calculator to get an idea of what your monthly payment may be.

This product is available to Ipswich Building Society Prestige intermediaries, selected intermediary partners and intermediaries based in our heartland area.

To see all of our current mortgage products, please download our mortgage product rate guide.

Please note our rate guide is an Excel document. Click here to download Excel Viewer from Microsoft, where you can open, view and print Excel documents even if you don't have Excel installed.


LOW LOAN Buy to Let 2.95% 2 Year Fixed Rate 75% LTV

About
Fees
Apply
Download Comparison
  • FIXED RATE of 2.95% until 31 December 2019 then changing to Ipswich Standard Variable Rate (currently 5.49%)
  • APRC 5.2%
  • Available to direct applicants in England and Wales, nationally via selected intermediary partners and all intermediaries based in our heartland area.
  • Selected partners include: Sesame (AR), PTFS (AR), Mortgage Intelligence (AR), Mortgage Next (AR), Life & Easy (AR), Intrinsic (AR), L&G Nouveau Members, L&G Nouveau2 Members, L&G (Selected Partners), SimplyBiz Mortgage, TenetLime & Tenet Connect.
  • Available for Purchase and Remortgage

Representative example (this information is based on a typical application and not to your individual circumstances. It does not contain all of the details you need to choose a mortgage)

A mortgage of £140,000.00 payable over 25 years initially on a fixed rate until 31 December 2019 at 2.95% and then on our Standard Variable Rate currently at 5.49% for the remainder of the mortgage term would require 26 monthly payments of £663.73, followed by 274 monthly payments of £848.76.          
The total amount payable would be £250,993.89 made up of the loan amount plus interest (£109,804.89), an application fee of £199, a completion fee of £700, a valuation fee of £160, a mortgage funds release fee of £35 and a mortgage discharge fee of £95. This example assumes the completion fee and mortgage funds release fee are added to the loan and that interest is charged on these fees over the mortgage term.                 
The overall cost for comparison is 5.2% APRC representative.  
[This representative example is based on assumptions that the loan would start from 1 January 2018]

Completion Fee Application Fee (Payable with application and non-refundable) Valuation Fee (Payable with application) Higher Lending Charge CHAPS (Fee for transfer of funds to solicitor) Maximum Loan Amount
0.5% of the advance £199 Purchase: based on property valuation. Remortgage: FREE (up to max property value £1m) - £35 £150,000

No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 31 December 2019
Overpayment of 50% or above - Early Repayment Charge is 3% of the overpayment
Redemption - Early Repayment Charge is 3% of the original loan amount

For remortgage only - fee assisted legals

Minimum loan amount £75,000

To apply, please speak to one of our expert Mortgage Consultants, based in Ipswich, on 0330 123 0773 - we're happy to discuss your application over the telephone or, if you'd prefer, we can arrange to meet with you at one of our 9 branches across Suffolk.

In the meantime, you may find it useful to take a look at our mortgage calculator to get an idea of what your monthly payment may be.

To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.

To see all of our current mortgage products, please download our mortgage product rate guide.

Please note our rate guide is an Excel document. Click here to download Excel Viewer from Microsoft, where you can open, view and print Excel documents even if you don't have Excel installed.