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
5.5x Income on Discount Products
Enhanced Affordability for our discount products including larger loans up to £1.5m
As part of our commitment to supporting homeownership at all stages of life. The Tipton & Coseley Building Society can offer additional flexibility to our affordability by utilising enhance income multiples for a variety of circumstances, even up to £1.5m loans!
How does it work?
By utilising our discount product range, we are able to offer up to 5.5 times income multiple.
Can be used in conjunction with:
- Up to 85% LTV on standard repayment (subject to product availability)
- Residential interest only (subject to prior LCOM approval – max loan 75% LTV)
- Applicants with thin credit files or the occasional credit blip
- Available to first time buyers, on JBSP & lending in retirement applications
- Now also available on our larger loan range for applications up to £1.5m!
All other affordability, policy rules and criteria conditions must be met.
Affordability calculator can be found here: https://www.thetipton.co.uk/intermediaries/affordability-calculators/