Tipton & Coseley Building Society has announced reductions of up to 0.30% 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’s 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.
Becky Wheeler, head of product and sales operations for the Tipton & Coseley Building Society, said: “We are pleased to be creating more choice and delivering greater value for brokers and their clients in the buy to let space.
“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.”
