The Tipton & Coseley Building Society
Mortgages
Mortgages you can feel comfortable with
Family Assisted
Fixed Rate
Choose to fix your initial mortgage payments.
Call 0800 833853 for a decision in principle
| Maximum Loan to Value 95% | ||
| Fixed to 31/03/2014 | 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 | Applications are considered for properties located within the Midlands counties unless the customer is an existing borrower. Existing borrower applications are considered nationwide. |
| Lending restriction | Applications are only allowed from existing members or applicants whose immediate family member is an existing member. |
| 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 must be taken. |
| Collateral charge limits | The collateral charge is limited to 35% 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 | 95% 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 30 years. |
| Insurances | Buildings insurance is conditional but is not a compulsory tied product. |
| Interest calculation | Interest is calculated daily and added to the account. |
Further information
Your home may be repossessed if you do not keep up repayments on your mortgage.
The product detailed above may be withdrawn at any time without prior notice.
© The Tipton and Coseley Building Society 2009
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