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 New Buy-to-Let and Expat Mortgage Products
Tipton & Coseley Building Society has introduced several new mortgage products, focusing on limited company buy-to-let (BTL) and expat borrowers. The changes include new fixed rates, updated loan-to-value (LTV) ratios, and revised fees.
For limited company BTL purchases, the lender has added a two-year fixed rate at 5.89%, available at a 70% LTV with a £1,999 fee. Expat BTL mortgages for new purchases now start from 5.14% at 70% LTV, fixed for two years, with an arrangement fee of 2% of the total amount borrowed.
The society has also retained its three-year fixed rate of 5.70%, but increased the LTV ratio from 80% to 90%. The fee for this product remains at £1,499. For expat residential borrowers, a two-year fixed rate option is available at 90% LTV. This rate has been reduced by 0.15% to 5.84%, and the fee has been lowered from £1,499 to £999.
Additionally, Tipton & Coseley has extended end dates to 31 October for selected residential and shared ownership mortgages, which are fixed for three and five years respectively.
These updates may be relevant to letting agents and inventory clerks working with landlords and expat clients seeking new mortgage options or reviewing existing arrangements.
Source: Mortgage Strategy