The Tipton & Coseley Building Society have announced a broker update, available below. Contact us to see how we help brokers like you across the UK, Alternatively please visit their website or their up to date Product Guides.
Announcement
Lending Criteria Update
The Tipton’s residential expat offering is extended to the self-employed
We have strengthened our lending criteria so that self-employed expat customers can now be considered across our expat residential product range.
This latest enhancement gives brokers more options for clients living overseas who want to retain a residential base in the UK.
In order to be eligible, applicants must:
- Demonstrate a minimum of two years’ continuous trading history and provide satisfactory evidence of income and business performance for the latest two years
- Reside in a Financial Action Task Force (FATF) approved country; and
- Satisfy all customer due diligence, verification and underwriting requirements.
The following documentation is a mandatory requirement:
- Latest two years’ financial accounts
- Relevant local tax returns, tax assessments or equivalent taxation evidence applicable within the country of residence; and
- An accountant’s reference confirming the nature of the business, its trading status and income.
If you have an expat case you’d like to discuss, or just want to understand more about our enhanced criteria and the solutions we can offer your clients, please contact your Tipton Business Development Manager.
You can also call our Telephone Business Development desk on 0121 521 4000, email [email protected], or use the live chat function on our website.