Tipton & Coseley Building Society has introduced several new products, with a particular focus on buy-to-let (BTL) limited companies and expatriate borrowers.
Among the changes is the addition of a two-year fixed rate of 5.89% for limited company BTL purchases. The loan-to-value (LTV) ratio is 70% and the product comes with a fee of £1,999.
Home loans for expatriates now start from 5.14% for new purchases with an interest rate of 70%. This rate is fixed for two years and there is an arrangement fee of 2% of the total amount borrowed.
Tipton retained its current three-year fixed rate of 5.70% but increased its loan-to-value ratio from 80% to 90%. The fee of £1,499 remains unchanged.
A two-year fixed rate option is available for resident expatriate borrowers, also at 90% LTV. The price of this product has been reduced by 0.15% to 5.84% and the fee has been reduced from £1,499 to £999.
Elsewhere, the lender has extended completion dates to 31 October for selected residential and shared ownership mortgages, which were set for three and five years respectively.
“We are constantly reviewing our product offering to ensure brokers and their clients have greater choice to meet their borrowing needs,” says Jason Newsway, chief commercial officer at Tipton & Cosley Building Society.
“This includes landlords operating through limited company structures, expatriate borrowers and clients looking to access a home via shared ownership.
