Here are the latest updates from the Suffolk 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. Click here for a full list of Ipswich products.
NEW – 125% ICR for basic or nil-rate UK taxpayers
- 125% for basic and nil-rate UK taxpayers
- 145% for higher-rate and additional-rate UK taxpayers
We’re bringing in a new 125% on the stress rate, for basic and nil-rate UK taxpayers. This is because the tax payable is significantly less than the liability payable for higher or additional-rate UK taxpayers.
The new lower ICR tier will effectively increase the amount that basic or nil-rate UK taxpayer landlords can borrow, subject to remaining within the Society’s 80% loan to value (LTV) criteria.
The current 145% ICR on the stress rate will remain in place for higher-rate or additional-rate UK taxpayers.