Buy to let borrowers in search of a variable rate mortgage have more choice following a range update by the Tipton & Coseley Building Society.
The lender has introduced a new three year discount option at 70% LTV to its expat buy to let purchase product set. The interest rate is 5.29% with an arrangement fee of £1,500.
Limited company buy to let borrowers can access the same rate of 5.29%. This is for a two year discount at 70% LTV with a £1,499 arrangement fee.
The additions complement the Tipton’s existing fixed rate buy to let mortgages, which start from 5.14% for expat buy to let purchases.
Fixed rates for limited company buy to let start from 5.89%. These products are offered to both applicants in the UK and expats living overseas who hold a UK passport.
Expat buy to let mortgages are available for expatriates living in any Financial Action Task Force (FATF) approved country. There are no minimum income requirements for the Tipton’s expat and standard buy to let propositions.
The Society also supports expat and limited company landlords wishing to remortgage. Its products come with a free standard valuation on properties valued up to £400,000, or a contribution of £350 for higher value properties, plus £250 cashback towards legal costs.
