We’re currently working on our BTL calculator in light of our recent criteria changes. We hope to have this back up and running soon but if you need any help in the meantime, please contact your BDM or the Helpdesk on 0330 123 1073.

New affordability criteria

Written by Ipswich Building Society

13 Jan 2021


Affordability, Lending Criteria

1 min read

In the second instalment of our weekly lending criteria updates, we want to highlight the improvements we have made to our affordability.

We’re excited to be implementing the following changes:

  • New improved affordability calculator model launched with enhancements made to the ONS figures used for applicant’s expenditure.
  • Enhanced income multiples for high earners (earnings over £75,000) – we will accept enhanced multiples up to 5.5x.
  • Regular shift allowance to increase from 50% to 100% for selected applicants.
  • BTL rental profit to increase from 50% to 100% – to be evidenced by 2 years Tax Calculations.
  • We will accept income from Directors that no longer play an active role in the company but continue to receive income in retirement.

To check out our criteria in full – please visit the lending criteria section of the website available here.

If you would like to discuss a case or for more information regarding these changes, please contact our Business Development team on 0330 123 1073.

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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