Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

The Tipton Reduces Mortgage Rates and Launches New Products

The Tipton & Coseley Building Society has reduced mortgage rates by up to 0.14% across several lending categories. The lender has also introduced new products, including variable rate options.

For expat buy-to-let (BTL) mortgages, rates now start from 5.44% for a two-year discount at 80% loan-to-value (LTV). Fixed rate alternatives for expat BTL include a five-year option at 5.68% and a three-year fix at 5.98%, both at 80% LTV. Limited company BTL purchasers can access a two-year fixed rate of 5.55% at 80% LTV, as well as three- and five-year fixed rate options. These products are available to both UK residents and expats living or working abroad.

The Tipton has also expanded its credit plus offering, which now starts from 5.49% for a two-year discount at 80% LTV. The two-year fixed rate for credit plus mortgages has been reduced from 6.09% to 6.04%. Credit plus mortgages are designed for borrowers with minor credit issues who do not meet standard lending criteria.

Further reductions have been made for borrowers approaching or already in retirement. The three-year retirement interest-only fix at 60% LTV has been reduced from 6.04% to 5.90%. The same rate is available for later life purchase at a 70% LTV ratio.

For standard residential purchase products, there is a 0.11% reduction to a three-year fix at 90% LTV, now priced at 5.99% and offered fee-free.

These changes may be relevant to letting agents and inventory clerks working with landlords, expats, and clients with non-standard credit profiles, as well as those assisting older borrowers.