Related topic: Expat

The new products are available for both UK and expat landlords.

The Society is introducing top slicing on its UK and expat buy-to-let mortgages and changing the way it assesses affordability for expat residential applicants.

The Society says the criteria change is in response to the growing number of expats working on a self-employed basis who want to retain a residential base in the UK.

Brokers estimate that only a third (34%) of expats are aware that they need a dedicated expat mortgage in the first place.

The brokerage will target homeowners, landlords and property investors while specialising in mortgages for expats.

These changes are designed to streamline the application process for intermediaries.

The Society has also reduced rates across its ranges.

Tipton & Coseley Building Society has cut rates by up to 0.30% across its expat and limited company buy-to-let ranges and added new fixed rate options.

Key criteria include 65% LTV and a minimum loan size of £200,000. 

In addition, the Society has updated its offering for expat buy-to-let borrowers.