Ipswich relaunches five-year expat BTL loan

 Keys, buy to let, landlord, BTL

Ipswich Building Society is relaunching its five-year fixed expat buy-to-let mortgage.

The loan has a 3.99 per cent rate up to 75 per cent LTV and is available up to £500,000. It has a £1,999 completion fee.

Applicants must have an income of at least the equivalent of £40,000.

Borrowers can have up to three buy-to-let homes. Rental income must exceed mortgage payments by a ratio of 145 per cent.

Private Finance director Shaun Church says: “Not all lenders are willing to accept income that isn’t in sterling, while the recent EU directive means those hoping to take out a foreign currency mortgage are now subject to greater affordability scrutiny.

“The relaunched Ipswich Building Society product is no exception in that borrowers must prove their rental income will exceed mortgage payments by 145 per cent.”


Houses, house, property, monopoly

First Complete buys stake in digital buy-to-let broker

First Complete has bought a minority stake in digital buy-to-let broker Property Master. Property Master uses algorithms to match landlords to more than 90 lenders offering 2,000 buy-to-let mortgages. The firm launched four months ago. Property Master chief executive Angus Stewart says: “This investment by LSL will help to accelerate the growth and capability of […]


Vida Homeloans unveils buy-to-let affordability calculator

Vida Homeloans has launched a buy-to-let affordability calculator to help brokers with customers declined by high street lenders. A Vida statement says the calculator has been created following broker feedback. The calculator is available on the lender’s website. It follows on from the launch of the firm’s maximum residential loan calculator in March, which has […]


News and expert analysis straight to your inbox

Sign up