We have introduced two self and custom build mortgages having teamed up with BuildLoan.
We have introduced two self and custom build mortgages having teamed up with BuildLoan.
The first is a two year discounted rate of 3.99% with a £999 arrangement fee that can be added to the loan. The second is a two year product with a 4.24% discounted rate with no arrangement fee. Both products have payable valuation fees and a 10% overpayment facility.
We will lend up to £450,000 at 85% LTV during the build stages and up to a maximum of 75% LTV at completion of the build. Funds will be released on an arrears stage payment basis.
Richard Groom, Head of Mortgage Sales said: "We are looking forward to working with BuildLoan. We've designed these mortgage products to increase the options available to self and custom builders which are amongst some of the most competitive on the market.”
Rachel Pyne, BuildLoan Operations Director, added: “We are delighted to be working with Tipton and Coseley Building Society, who have now entered the self and custom build market exclusively through BuildLoan.
"Their new exciting and competitive arrears stage payment products have strengthened our product offering in this growing market.
"Now is a great time for self and custom build, with the Government’s continued support and the demand for finance continually on the rise. Our partnership will allow more self and custom builders to access the funds they need for a successful project, and demonstrates the growing commitment of lenders to the self and custom build housing sector.
"We are looking forward to a lasting relationship with Tipton and are confident we’ll see increased lending through these new products.”