Tipton & Coseley Building Society enhances Buy-to-Let lending criteria

Tipton & Coseley Building Society has announced a series of enhancements to its Buy-to-let product criteria. The move is part of Tipton’s on-going commitment to supporting Landlords, following cuts to Buy-to-Let tax relief introduced by the government in 2017.

Tipton has reduced its Interest Cover Ratio calculation for experienced landlords for both basic and higher rate taxpayers. With the required rental cover reduced to 125% and 130% respectively.

An experienced landlord is defined as someone who currently holds, or has held at least one buy-to-let property within the last 12 months.  

In addition Tipton is also reducing its minimum age on application from 25 to 21 years on all of its Buy-to-Let products.

Cammy Amaira, Director of Sales & Marketing, commented:

‘Recent cuts to tax relief have made buy-to-let investing more challenging for new and experienced landlords. At the Tipton, we hope that these favourable changes to our stress rates for experienced landlords and a reduction in the minimum application age will help landlords regain momentum’