Tipton & Coseley Building Society has increased the maximum loan-to-value on its expat residential mortgages, lending up to 85% LTV to a maximum loan size of £600,000.  

The mutual adds that its existing 80% LTV products with a maximum loan size of £800,000 will be retained “to create a broader and improved range” for expats that starts from 4.94%. 

The range holds two-year discounts and five-year fixed rates, each with a £1,499 arrangement fee.  

Further details include: 

• Residential expat purchase – a two-year discount at 80% LTV at 4.94%, which is a 3.05% discount from the mutual SVR until 30 September 2027, with a £1,499 arrangement fee. Minimum mortgage amount of £50,000; and maximum of £800,000 

• Residential expat purchase – five-year fixed at 85% LTV at 5.50% fixed until 30 September 2030, with a £1,499 arrangement fee. Minimum mortgage amount £50,000 and a maximum of £600,000 

Tipton & Coseley Building Society head of intermediary distribution Andy Millard says: “Increasing the maximum LTV means a smaller deposit is required and therefore creates choice for brokers and their clients seeking more specialist lending solutions.” 

“Not only are we utilising the five times income enhancement for expat customers, we have gone further by offering them an interest-only option for the first time, of up to 75% LTV. 

“We have also introduced the ability for close family members who are not named on the mortgage to occupy the property as well.”