The Tipton cuts buy-to-let rates and adds new 6.5x LTI products

Tipton & Coseley Building Society has announced a series of enhancements to its mortgage ranges, cutting rates on selected products by up to 0.22% and lowering arrangement fees.

The changes are mainly focused on the Society’s expat buy-to-let and limited company buy-to-let ranges.

For expats, options include a five year fixed rate of 5.68% at 80% LTV for new purchases, which now has a reduced arrangement fee of £900. There is also a two year fixed rate of 5.82% at 60% LTV, an extra addition to the Tipton’s range.

Limited company buy-to-let reductions include a five year fixed rate of 5.67%, down from 5.89%, available up to 80% LTV with a £900 arrangement fee.

As part of the latest review, the Tipton has also reintroduced high income multiple mortgages. Products are available up to 80% LTV for residential purchase and remortgage, starting at 5.65% for a two year discount. No arrangement fee is payable.

High income multiple mortgages enable applicants to enhance their borrowing up to six and a half times income, versus up to five times on the Tipton’s standard products.

Becky Wheeler, head of product and sales operations for the 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.”