Tipton cuts expat and limited company buy-to-let rates

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Tipton & Coseley Building Society has reduced selected expat and limited company buy-to-let mortgage rates by up to 0.30 percentage points.

The mutual has also added fixed-rate products for landlords buying properties or seeking to remortgage.

Its expat buy-to-let range now starts at 5.44% for a two-year discount from the society’s buy-to-let variable rate. The mortgage is available at up to 80% loan-to-value (LTV) and carries a £1,499 arrangement fee.

An 80% LTV two-year fixed rate has been cut from 5.90% to 5.69%. It has a £99 booking fee and a £1,400 arrangement fee.

The lender has also introduced a five-year fixed rate at 5.64%, available at up to 70% LTV with a £99 booking fee and a £1,900 arrangement fee.

Limited company buy-to-let rates start at 4.69% for a two-year fixed-rate mortgage at 70% LTV. An arrangement fee of 3% of the amount borrowed applies.

The largest reduction in this part of the range is to the five-year fixed rate at 80% LTV, which has fallen from 5.99% to 5.69%. Its £99 booking fee and £1,900 arrangement fee remain unchanged.

Two-year discounted variable rates are available at 60% and 80% LTV.

Becky Wheeler, head of product and sales operations at 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.”

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