Tipton cuts rates on three and five year fixes

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The Tipton and Coseley Building Society has cut rates on its three and five year discounted buy-to-let purchase products.

The first three year discounted product has an initial rate of 2.68 per cent until 31 October 2019 with no product fees.

The alternative 2.38 per cent product until 31 October 2019 has a £199 booking fee and £1,799 arrangement fee.

The five year product now has an initial rate of 2.98 per cent until 31 October 2021 with no product fees and no early repayment charges.

In addition to cutting rates on buy-to-let products, Tipton has also made its product range available to consumer landlords.

Tipton head of mortgage sales (intermediary and direct) Richard Groom says: “The demand for rental properties continues plus there are many people who find themselves having to let property as a result of circumstance.

“We want to support consumer landlords – which we see as a growing market – to help ensure they’re aware of as many product opportunities in the market as possible.”