Tipton & Coseley Building Society has expanded its offering for expat residential borrowers by increasing the maximum loan to value to 85%, with a loan ceiling of £600,000.

The move sits alongside the lender’s existing 80% LTV products, which have a higher maximum loan size of £800,000.

The updated range now starts from 4.94% and includes both two-year discounted and five-year fixed rates, each carrying a £1,499 arrangement fee.

Andy Millard (pictured), head of intermediary distribution at the Tipton, said the changes were designed to make home ownership in the UK accessible to a wider pool of expatriates. “Increasing the maximum LTV means a smaller deposit is required and therefore creates choice for brokers and their clients seeking more specialist lending solutions,” he said.

The Tipton recently lifted its standard loan to income ratio to five times income across all products, with no minimum income requirement. This enhancement is being applied to expat cases, alongside an interest-only option for the first time up to 75% LTV.

The society has also introduced the ability for close family members who are not named on the mortgage to live in the property.

“These are just some of the ways through our purpose that we are helping our customers achieve their most important financial goals and secure a home of their own,” said Millard.

The Tipton, which lends on properties across England and Wales, can assess affordability for expat borrowers in any of 20 different currencies. Applicants may live in any country approved by the Financial Action Task Force.