The Tipton & Coseley Building Society has enhanced its borrowing up to six and a half times income.
The Tipton has a choice of high income multiple residential mortgages for customers who can demonstrate a greater borrowing capability.
Products are available up to 80% loan-to-value (LTV) for purchase and remortgage, starting at 5.75% for a two year discount with a £999 arrangement fee.
Tipton head of intermediary distribution Andy Millard says: “While our standard approach is to offer up to five times income, there will be occasions when customers need further help in securing the home they want, or just wish to make swifter progress up the property ladder.”
“Our High Income Multiple products use straightforward affordability without the typical caveats of minimum income requirements or having to work within specified professions, thereby making them accessible to people from all walks of life.”
“The Tipton adopts a personalised underwriting approach, so we can take full account of the applicant’s circumstances when determining how much we might lend.”
“Where there is a proven need, offering income multiples up to this level, especially without onerous terms, can make all the difference to a buyer’s plans.”
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