Brilliant Solutions

Ipswich Update

Here are the latest updates from the Ipswich Building Society.  These products are available via our direct to lender mortgage club which offers you payment on completion as well as specialist mortgage support and more. 

Changes to Criteria

We have made some exciting general changes to our lending criteria which will have a positive impact on the lending experience here at the Ipswich.

Ipswich Building Society will now accept the following;

  • Properties with annexes (including detached) which are intended for residential use (up to 75% LTV).
  • Allow flats above high quality commercial basis – please refer the property to the Society in the first instance.
  • Where the repayment vehicle for an interest only mortgage is a 2nd property, the LTV has increased to 70% (previously 50%)
  • Landlord references no longer required.


More changes…

This week’s criteria change update focuses on affordability and changes to criteria which will help improve affordability across all applications, they are:

  • Key changes to working affordability including an enhanced income multiplier for high earners that are earning £75k or more (up to 5.5x)
  • We are now accepting income from directors that no longer play an active role within a company but continue to receive income in retirement.
  • Increases in % of shift allowance that the Society can take for certain roles – up to 100%.
  • 100% of BTL rental profit can now be used to support affordability – average of the last 2 years tax calculations used.


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