Tipton & Coseley Building Society has updated its residential lending criteria to support expats who run their own businesses.
The Tipton will now consider income derived from overseas self-employment where the customer operates a business outside the UK, subject to verification and its usual lending assessments.
Applicants can reside in any Financial Action Task Force (FATF) approved country.
They must demonstrate a minimum of two years’ continuous trading history and provide satisfactory evidence of income and business performance for the latest two years.
The Tipton says the criteria change is in response to the growing number of expats working on a self-employed basis who want to retain a residential base in the UK.
Chief commercial officer, Jason Newsway, commented: “We continue to build a strong reputation in the expat lending market by offering competitive residential and buy-to-let product ranges and consistently high levels of service.
“We listen closely to feedback received from our broker partners and use it to enhance our overall proposition.
“This latest expansion to our lending criteria means greater flexibility for brokers and more opportunities to place cases for self-employed clients living overseas.”
