Tipton & Coseley Building Society has made several changes to its mortgage range this week, improving value and choice.
It sees the reintroduction of high income multiple lending, last offered by the Society in early June. A two year discount at up to 80% loan to value (LTV) is available, priced at 5.59% for new purchases with a £999 arrangement fee.
High income multiple mortgages are for customers who can demonstrate a greater borrowing capability. In these cases, the Tipton will lend up to six and a half times income.
Across other categories, selected rates have been cut, including those for expat residential borrowers. A 21bps reduction brings the rate on a two year discount at 90% LTV down to 5.69%. The previous £1,499 arrangement fee has also been removed.
Customers preferring to fix their mortgage can get the same rate of 5.69% over a three year term. This is for expat residential purchases at 70% LTV, or there are further fixed rate options at 80% and 85% LTV rounding out the range.
Expat buy to let mortgages have had a similar refresh, with a two year fixed rate of 5.64% released at 70% LTV. The Tipton’s limited company buy to let mortgages now start from 4.69%, fixed for two years at an LTV of 60%.
Becky Wheeler, head of product and sales operations for the Tipton & Coseley Building Society, said: “We appreciate the market is challenging at the moment as brokers contend with frequent product changes and price fluctuations.
“Our commitment is to maintain a competitive position by sharpening our rates where we can and introducing products across a broader range of LTV bands. This creates choice and could enable clients to act more quickly on their homebuying plans.”
