Ipswich Building Society makes expat mortgages available to brokers in Suffolk
Ipswich Building Society has widened the availability of its expat mortgages to intermediaries in its heartland of Suffolk.
These mortgages are designed for UK nationals temporarily working abroad.
At the same time the society has changed its buy-to-let affordability rules so it accepts ‘top slicing’ – where an applicant’s income can be used to ‘top up’ shortfalls for those who don’t meet rental cover requirements.
Richard Norrington, chief executive of Ipswich Building Society, said: “I am delighted that we are extending the reach of our expat mortgages to intermediaries in our heartland area, and our existing networks and clubs.
“This increases accessibility for the growing number of employed Britons living abroad who are looking to purchase or remortgage a property in the UK.
“Our ability to top-slice on discount rate products will give applicants who are unable to meet rental cover requirements the opportunity to purchase or remortgage their desired property within the UK. This helps us further support those mortgage misfits who are finding it difficult to access the mortgage market.”