Buy to Let
More options for your landlord clients.
We can help with purchases and remortgages for properties being let out to tenants, for clients with small portfolios rather than commercial investors. Our discount rate products offer topslicing, so for cases not meeting rental cover requirements we're able to use personal income to make up the shortfall. Whilst we won't lend on BTL to first time buyers we will consider applicant who have previously held a mortgage.
We require 145% rental cover when calculating affordability. For transitional cases, we use 125%.
We require a valid Energy Performance Certificate (EPC) confirming that the property meets the minimum required standards for energy efficiency (rated E or above).
Take a look at our lending criteria for more details.
Buy To Let 3.25% 2 Year Discount Rate 80% LTV
- VARIABLE RATE currently 5.24% with a discount of 1.99% until 2 years from completion date then changing to Ipswich Standard Variable Rate (currently 5.24%)
- 5.0% APRC
- For purchase and remortgage up to 80% LTV
24091, 24092 (t/s 24093, 24094)
| 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 |
|---|---|---|---|---|---|
| £950 | £199 | Purchase: based on property valuation. Remortgage: FREE | - | £35 | £500k |
No charge for overpayments of up to 50% of original loan amount
Early repayment charge period ends 2 years from date of completion
Overpayment of 50% or above - Early repayment charge is 1% of the overpayment
Redemption - Early repayment charge is 1% 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.
To apply for this product visit our Apply and Track section, or give our intermediary sales team a call on 0330 123 1073.