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arrangement fee
This fee can be paid upfront or added to the mortgage amount. If the fee is added to the mortgage then interest will be payable on the fee at the same rate as the mortgage.
1.25%
booking fee
This fee must be paid on application. We are unable to accept payment of the fee by credit card.
no fee
initial rate
2.85% discount from our BTLVR for 3 years
2.59%
followed by our BTLVR 5.44%
The overall cost for comparison is 4.9% APRC

Discounted for 3 years . Early Repayment Charges apply. . This product may be withdrawn at any time.

Product key features

  • Product related fees
  • Product incentives
  • Mortgage amounts
  • Interest rate floor
  • Mortgage repayment terms
  • Early Repayment Charges
Product related fees

There is an arrangement fee of 1.25% of the loan amount that can be deducted from the mortgage amount or added to the amount borrowed.

If your client chooses to add the fee to their mortgage, they'll pay interest on the fee at the same rate as their mortgage.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Product incentives

Free standard valuation: We'll cover the cost of a standard mortgage valuation on a property valued up to £400,000, which is equivalent to a £350 contribution towards the cost of a standard valuation. Your client may choose to have a RICS Homebuyers Report, however they'll have to cover the difference in cost between a standard mortgage valuation and the RICS Homebuyers Report.

Legal fee cashback: Your clients will need to nominate their own Solicitor, but will receive £250 cashback from the Society towards their legal fee costs.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgage amounts

There is a minimum mortgage amount of £100,000.

The maximum mortgage amounts for this product are tiered by loan to value:

  • Up to 50% LTV: maximum loan of £950,000
  • Up to 60% LTV: maximum loan of £700,000
  • Up to 70% LTV: maximum loan of £500,000

The maximum loan to value is 70%.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Interest rate floor

The interest rate is floored meaning it cannot fall below 2.59%.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Mortgage repayment terms

Your client can repay their mortgage over a minimum of 5 years and a maximum of 35 years.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Early Repayment Charges

Early Repayment Charges apply during the product term. Up to 10% of the original mortgage amount can be overpaid each year without charge, however, if the mortgage is redeemed or switched to another product during the product term, then the Early Repayment Charge will apply.

The Early Repayment Charge will be:

  • 3% of the amount repaid during the first year;
  • 2% of the amount repaid during the second year; and
  • 1% of the amount repaid during the third year.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Tools to get you started

tools and guides
FAQs
  • Do you credit score?

    We don't credit score mortgage applications. All cases are underwritten on an individual basis by a real person. At decision in principle stage we'll complete a credit quotation and when a full application is submitted we'll carry out a full credit application that'll leave a footprint on your clients credit file.

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  • How do I get an update on my case?

    If you've submitted a full application and know the name of your designated Case Officer please call us on 0121 521 4048 and ask for your Case Officer, who'll be happy to help. If you're at the decision in principle stage of your application please call our Business Development Team on 0121 521 4000 or email newbusiness@thetipton.co.uk.

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  • Will you consider lending into retirement?

    Our Retirement Interest Only product range allows your client to use the sale of their property as their repayment strategy (provided they are receiving pension income and have a minimum of 40% equity in the property).

    In contrast to our standard later life lending products, our RIO mortgages have no fixed term, and can run until a life changing event occurs.

    If your client wishes to gift some equity to a family member, enjoy some holidays or give their home a face-lift with some home improvements, up to 25% of the property value can be released for these purposes.

    Joint applications for a RIO mortgage can be considered when both applicants are aged 55 or over, and can satisfy affordability checks individually.

    With our standard later life lending products, your clients can borrow up to their 95th birthday, meaning your clients can borrow into retirement or if they’re already retired.

    With our Standard Later Life products, if both applicants are retired but cannot prove affordability in sole name, applications will be considered where there is enough equity available to downsize to a two bedroom flat/house within 5 miles of the mortgage property.

    For more information please discuss your case with our Business Development Team by calling 0121 521 4000 or emailing newbusiness@thetipton.co.uk.

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  • What are your service levels?

    We aim to provide you with a lending decision within 24 hours of receipt of a completed decision in principle.

    When we've received a fully packaged application we'll obtain any fees and instruct a valuation within one working day.

    As we underwrite each case individually timeframes can change due to complexity and the amount of involvement needed in each case. Your mortgage Case Officer will give you more information when your application has been passed over to our Mortgage Processers.

    On receipt of a fully packaged application we aim to get it to offer within 14 working days.

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  • What is your lending area?

    We lend on properties located across England and Wales. The minimum property valuation is £75,000. This increases to a minimum valuation of £250,000 if the property to be mortgaged is located within the M25 corridor.

    We are unable to accept applications on properties located in Scotland, Northern Ireland or the Isle of Man.

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Happy to help you...

  • Discuss your clients buy to let needs
  • Help with your existing buy to let case
  • Discuss our buy to let lending criteria
  • Process your decision in principle request
contact us
Our Head of Mortgage Sales, Richard is happy to help 0121 521 4000*
Our lines are open:
Monday - Friday9:00 - 17:00
Saturday - SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Your property may be repossessed if you do not keep up repayments on your mortgage.