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Revert-to: improved affordability for your clients

Written by Ipswich Building Society

27 Jan 2020

Tags

Criteria update

1 min read

We have introduced a new reversion rate across our product range, including all of our currently available 2 and 3 year products with the exception of Buy to Let and Holiday Let.

What is a reversion rate and how does it benefit your client?

Instead of switching to our Standard Variable Rate (SVR) at the end of the product period, your client's mortgage will instead move on to a lower follow-on rate for 2 or 3 years, with no additional tie-in beyond the initial product period.

This change means we will now stress affordability on the new lower reversion rate, resulting in a more favourable affordability calculation for your client at the outset.

For more information, give us a call 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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