“We are pleased to be creating more choice and delivering greater value for brokers and their clients in the buy-to-let space. “
– Becky Wheeler – Tipton & Coseley
Tipton & Coseley Building Society has announced reductions of up to 0.3% on mortgage rates for both expat and limited company buy-to-let borrowers. Further fixed rate options have also been added to the range to support new purchases and customers looking to remortgage.
Expat buy-to-let mortgages from the Tipton start from 5.44%. This is a variable rate discounted from the Tipton’s buy-to-let variable rate for two years. The loan-to-value (LTV) ratio is 80% and a £1,499 arrangement fee applies.
A two-year fixed rate, also at 80% LTV, is down from 5.90% to 5.69%. It comes with a £99 booking fee and a £1,400 arrangement fee.
There is also a new five-year fixed rate of 5.64% available at 70% LTV, which has a £99 booking fee and a £1,900 arrangement fee.
Limited company buy-to-let products start from 4.69% for a two-year fixed-rate mortgage at 70% LTV. There is an arrangement fee of 3% of the total amount borrowed.
The biggest reduction in this category is against the Tipton’s five-year fixed rate at 80% LTV, now priced at 5.69% instead of 5.99%. The £99 booking fee and £1,900 arrangement fee are unchanged.
Customers favouring a variable rate can choose from two-year discounts at either 60% or 80% LTV.
“We are pleased to be creating more choice and delivering greater value for brokers and their clients in the buy-to-let space,” Becky Wheeler, head of product and sales operations for the Tipton & Coseley Building Society, said.
“Each new or repriced product includes a remortgage option, so we can also help existing borrowers nearing the end of their current deal to secure a competitive ongoing rate.
“Unlike some lenders, we don’t apply a minimum income requirement on our expat buy-to-let proposition, making it a relatively straightforward case type for brokers to submit.”