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.
Tipton & Coseley Launches 90% LTV Mortgages for Expat Buyers
Tipton & Coseley Building Society has expanded its expat residential mortgage range by introducing a selection of 90% loan-to-value (LTV) products. The new offerings include two- and five-year fixed rates, as well as a two-year discount variable rate option.
The two-year and five-year fixed residential expat mortgages at 90% LTV are both set at a rate of 5.75%, with a £1,400 arrangement fee. The two-year discount variable rate is priced at 5.90%.
In addition to the new residential products, Tipton & Coseley has updated its expat buy-to-let (BTL) mortgage range. The society has introduced two-year fixed rate deals at both 60% and 80% LTV, with rates of 5.90% and 6.00% respectively. These are offered alongside existing three- and five-year fixed rate options, as well as a two-year discount. The society continues to offer its existing 85% LTV products, with rates starting from 5.39%.
These changes may be relevant to letting agents and inventory clerks working with expat clients seeking to purchase or let property in the UK, as the increased maximum LTV could enable more expats to enter the market with a smaller deposit.
Source: Mortgage Strategy