arrangement fee
0.5%
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.
booking fee
no fee
This fee must be paid on application. We are unable to accept payment of the fee by credit card.
initial rate
4.54%
1.35% discount from our SVR until 31/10/2024
followed by our SVR
5.89%
The overall cost for comparison is
5.9%
APRC
Discounted until 31/10/2024 . Early Repayment Charges apply. . This product may be withdrawn at any time.
Product key features
- Product availability
- Who's the product for?
- Product related fees
- Product incentives
- Mortgage amounts
- Interest rate floor
- Early Repayment Charges
Product availability
This product is available via BuildLoan.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Who's the product for?
Our range of self and custom build mortgage products have been designed to help borrowers who dream to build their own home.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Product related fees
There is an arrangement fee of 0.5% of the loan amount. This fee can be paid up front by deducting the fee from the amount borrowed. Alternatively the fee can be added to the mortgage amount. Please note, there is a minimum arrangement fee of £999.00. If the fee is added to the mortgage your client will pay interest on the fee at the same rate as the mortgage.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Product incentives
The Additional Security Fee (ASF) is included.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Mortgage amounts
The minimum mortgage amount is £100,000 and the maximum mortgage amount is £600,000.
The minimum property value upon completion of the build is £75,000 increasing to £250,000 for properties located within the M25 corridor.
The maximum loan to value is 85% during the build phase.
Mortgage repayment terms
The minimum repayment term is 5 years and the maximum repayment term is 40 years.
You will only qualify for this product for 2 years from inception, by which time the build must be completed and you can then apply for any suitable product from our standard mortgage range.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Interest rate floor
The interest rate is floored which means that the rate on your mortgage cannot drop below 4.54%.
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 calculated as follows:
- 3% of the amount repaid until 31 October 2022;
- 2% of the amount repaid until 31 October 2023; and
- 1% of the amount repaid until 31 October 2024.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Resources to get you started
tools and guides
FAQs
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- What is your lending area?
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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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- How do I register with you?
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Our registration process is simple. There's no need to pre-register if you're sending us a decision in principle. We'll require a completed registration form to accompany your first submitted mortgage application. You can complete and sign the form and then email a scanned copy to us at newbusiness@thetipton.co.uk.
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- How do I get an ESIS?
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To obtain an ESIS please email us at newbusiness@thetipton.co.uk with the following details:
- Your company name along with your FCA number, email address and a contact telephone number;
- Your client(s) name(s);
- The product you're interested in;
- The mortgage amount and purchase price;
- The valuation type required;
- The term your clients would like their mortgage over;
- Details of any fees you are charging; and
- Details of selected payment route for procuration fee.
Once we have completed your ESIS we will send it to you via email.
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- What are your valuation fees?
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Our tariff of mortgage charges details the costs your clients will incur for a standard mortgage valuation. They can choose a more detailed homebuyers report, the costs for which are available by calling 0121 521 4000.
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- Do you credit score?
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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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We're here to help
- Discuss your clients needs
- Help you use our website
- Talk through our lending criteria
- Answer any queries you may have
Faye is here to help you with your case
0121 521 4000*
Our lines are open:
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.
| Monday - Friday | 9:00 - 17:00 |
| Saturday - Sunday | Closed |
Your home may be repossessed if you do not keep up repayments on your mortgage.