10 March 2017
Ipswich have announced their return to Buy to Let lending with two refreshed products and the launch of a programme for transitional borrowers.
3.39% 2 Year Fixed Rate 75% LTV - For Purchase and Remortgage
3.19% 2 Year Discount Rate 75% LTV - For Purchase and Remortgage
What is a transitional mortgage?
Ipswich were the first lender to utilise transitional arrangements - enabling your customers to switch lenders without falling foul of post-MMR affordability assessments - and campaigned for this to be continued after the implementation of MCD.
Through their new transitional programme, they can now accept remortgage applications from existing Buy to Let borrowers with other lenders, via the transitional rules based upon an interest coverage ratio of 125% of product pay rate.
More details can be found on their website.