Tipton & Coseley Building Society has reduced rates across selected buy-to-let (BTL) products and reintroduced high income multiple mortgages, allowing borrowers to access up to 6.5x income.
The lender has cut rates by up to 0.22% and lowered arrangement fees across parts of its mortgage range, with the changes focused primarily on expat and limited company buy-to-let products.
Within its expat range, the society has introduced a new 2-year fixed rate at 5.82% up to 60% loan-to-value (LTV), while its 5-year fixed rate at 80% LTV for purchases now comes with a reduced £900 arrangement fee.
For limited company landlords, a 5-year fixed rate at 80% LTV has been reduced from 5.89% to 5.67%, also with a £900 arrangement fee.
The lender said remortgage products across the range include a free standard valuation on properties worth up to £400,000, or a £350 valuation contribution for higher-value homes, alongside £250 cashback towards legal costs.
Alongside the buy-to-let changes, the society has relaunched its high income multiple proposition for residential purchase and remortgage borrowers.
The products are available up to 80% LTV and start from 5.65% on a 2-year discount rate, with no arrangement fee.
Eligible applicants can borrow up to 6.5x income, compared to up to 5x income under the society’s standard affordability assessment.
Becky Wheeler, head of product and sales operations at Tipton & Coseley Building Society, said: “We are continuously looking to improve our offering for borrowers and ensure our mortgages remain competitive in what is a very fast moving and unpredictable market.
“These latest changes see us focus primarily on our buy to let and high income multiple ranges, so we can provide brokers and their clients with plenty of choice.
“This sits along great service and an elevated user experience for brokers following the recent introduction of our online mortgage application portal.”