The Tipton increases maximum LTV for expat residential borrowers

Tipton & Coseley Building Society has added a selection of 90% LTV products to its expat residential mortgage range.

The range consists of two and five-year fixed rates, plus a variable rate option presented as a two-year discount.

The Tipton’s two-year fixed residential expat mortgage at 90% LTV has a rate of 5.75% and a £1,400 arrangement fee. The five year fix also has a rate of 5.75%, while the two year discount is priced at 5.90%.

Existing 85% LTV products are retained, leading to a broader range with rates from 5.39%.

In addition, the Society has updated its offering for expat buy-to-let borrowers, introducing two-year fixed rate deals at both 60% and 80% LTV.

These have rates of 5.90% and 6.00% respectively and sit alongside a choice of three and five-year fixed rate options, as well as a two-year discount.

Becky Wheeler, head of product and sales operations at the Tipton, said: “We are pleased to be extending the opportunity to purchase a home in the UK to a wider number of expats.

“Increasing our maximum LTV to 90% means a smaller deposit is required. This creates more choice within the segment for brokers and their clients, who may be able to buy sooner as a result.”