The Tipton & Coseley Building Society

Call 0800 833853 for a decision in principle

Maximum Loan to Value 100%
^{Fixed to 31/08/2012}	^{Reverting to a variable rate of}	^{The overall cost for comparison is}
6.69% fixed	4.99% variable	5.6% APR

This product is currently not available to mortgage intermediaries.

Key features
Property location	The property must be located within B, DY, WS or WV postcode areas.
Lending restriction	Applications are only allowed from existing members or their immediate family.
Higher lending charge	None payable.
Early repayment charge	An early repayment charge applies during the fixed rate period.
Arrangement fee	An arrangement fee of 0.4% of the advance is payable and must be added to the loan.
Collateral charge	A collateral charge will be taken against the family members' property for which independent legal advice is strongly advised to be taken.
Collateral charge limits	The collateral charge is limited to 25% of the loan amount plus arrears, interest and charges.
Collateral charge removal	The collateral charge can be removed once the loan to value on the property falls below 75% and the borrowers' income can cover the full loan amount (fees will be payable).
Family members' property valuation	The valuation on the family members' property will be charged at our normal scale fee.
Minimum loan	The minimum amount that you can borrow is £25,000.
Maximum loan	100% of purchase price or valuation, whichever is lower subject to a maximum of £200,000.
Payment methods	Monthly repayments must be made by direct debit.
Mortgage repayment terms	Terms available from 5 years to 40 years.
Insurances	Buildings insurance is conditional but is not a compulsory tied product.
Interest calculation	Interest is calculated daily and added to the account.