Tipton & Coseley Building Society has made its ex-pat buy-to-let range available to all intermediaries as well as customers who apply directly. 

Previously the products had only been available to selected intermediaries. 

However, to test whether or not there is a wider appetite for the deals it has now assigned a limited tranche of funding for the range to be available to the whole of the market. 

The Tipton is offering two fixed and one discount variable product for purchase and remortgage.

It has a three-year fixed at 3.19% with a 1% arrangement fee; a three-year discount rate at 2.74% with a 1.25% fee; and a five-year fixed at 3.34% with a 1% fee.

The deals have a maximum loan size of £500,000 up to 70% LTV, £700,000 up to 60% LTV and £950,000 up to 50% LTV, and they are open to first-time landlords and the self employed.

Landlords must hold a UK bank account and have a minimum income of £20,000 per annum or the equivalent in foreign currency income.

The Interest Cover Ratio (ICR) calculation for experienced landlords has been set at 125% stressed at 5.5% or at pay rate for those fixing for five years.

An experienced landlord is defined as someone who currently holds, or has held at least one buy-to-let property within the last 12 months.

Tipton director of sales and marketing Jason Newsway says: “We are delighted to be able to assign a limited tranche of funding which means our range of ex-pat products is now available to the whole of market. 

“Once again we have listened to our broker partners who are now able to offer their first-time and experienced landlords clients with a range of buy-to-let products with a competitive set of stress rates.”