Tipton BS unveils new buy to let offering

Tipton and Coseley Building Society has launched its new product range of buy to let mortgages, with a variety of 70% LTV purchase and remortgage products now on offer.

The building society has entered the buy to let market with a range that includes a two-year discount with an initial rate of 2.78% for new purchase.

This is a discount of 2.71% from the buy to let variable rate and has a £999 arrangement fee.

The new products are only available through intermediaries.

On offer from Tipton is also a remortgage deal, which is a two-year discount rate at 2.98% (2.51% below its buy to let variable rate), with a £199 booking fee and £799 arrangement fee.

This offer includes free standard legal fees and free standard valuation.

Richard Groom, head of mortgage sales for Tipton said:

“We’re delighted to launch a new buy to let portfolio, especially as research suggests that a quarter of homes over the next decade will be rented out. We’re capitalising on this suggested trend and look forward to developing and growing our market share.”