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Exclusive: Tipton to launch BTL for limited companies

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  • 17/04/2019
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Exclusive: Tipton to launch BTL for limited companies
Tipton and Coseley Building Society will be launching a range of buy-to-let products for limited companies in the next three months, Cammy Amaira, director of sales and marketing at the mutual, told Mortgage Solutions.

 

Amaira (pictured) said that the range will include only discounted rate deals, available up to 70 per cent loan to value (LTV). The maximum loan will stand at £500,000.

This follows the launch of a range of BTL products for expat borrowers in February.

Cammy Amaira said: “Our offering is designed to try and support brokers help customers in the BTL space, especially at a time when BTL investing is even more challenging for both new and experienced landlords”.

He also revealed that as part of its plans aimed at implementing the later life arena, Tipton is currently talking to Age Partnership and Key Retirement, with a view to referring customers who the society were unable to assist.

However, he pointed out that at this stage no further information can be disclosed.

 

Growth plans

Amaira said that this launch is part of the lender’s growth plans for this year.

He added: “Our lending target for 2019 is £100m. Last year we overcame our target of £80m, achieving £84.5m in total.

“We are looking at niche areas and we will be reviewing our criteria on an ongoing basis to continue to be competitive.

“Part of our plans also include the recruitment of another business development manager by the end of the year.”

Looking at the future, Amaira said that the lender will be investing further in technology.

“The front office broker portal will be implemented during 2019, in response to the brokers’ feedback revealing their preference for online applications.

“This will help them upload documents quicker,” he concluded.

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