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5 reasons to fix for five years

Written by Ipswich Building Society

18 Apr 2019


Expat Buy to Let, Fixed rate, Later life

3 min read

We live in uncertain times – with the economy weakening and the Brexit deadlock continuing to lurk on the agenda, it seems that consumers and businesses alike have had to learn how to live with not knowing where their financial situation might be in a couple of years’ time.

If your client is looking for longer term security for their mortgage, a five year fixed option might be a good bet – here’s five reasons to fix with us for five years:

Later life clients welcome

If your client is aged 50 or over and looking to remortgage or borrow more, our later life 5 year fixed rate might be a good option. Our later life loans are available up to 75% LTV with no maximum age limit and 100% of pension income accepted. Loans are available on interest-only up to 50% LTV provided there is at least £150k of equity in the property.

An option for landlords

Buy to Let applicants can take advantage of our five year product if they are looking to fix their mortgage costs. Our Buy to Let loans are available for small-scale landlords with less than three properties in their portfolio and first-time landlords are welcome, so long as they hold a residential mortgage of have done so in the past.

Choice for expat clients renting out their UK home

Borrowers living and working abroad and renting out their UK property are welcome on our five year fixed expat Buy to Let product. Loans are available up to 75% LTV for applicants paid in any currency and resident in any country not subject to UN international sanctions. Transitional cases are calculated on 125% rental cover and non-owner occupiers are considered.

No stressed interest rate

For five year fixed applications, we calculate affordability on the product pay rate only with no stressed interest rate, granting your clients extra flexibility with their income.

Manual underwriting with a personal touch

All of our applications are underwritten in-house by our team of experts who will take a common sense view of your client’s income and earnings. If your client has an unusual case requiring that personal touch, get in touch.

This article was published under our previous name of Ipswich Building Society. We changed our name in 2021 – get in touch if you have any questions.

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