Fixed rate later life lending launch
Tipton & Coseley Building Society has launched two fixed rate mortgages for later life lending, available to intermediaries and direct customers.
The first is a three year product, fixed at 3.09%. The second is a five year product, fixed at 3.29%. Both products have an arrangement fee of £499 that can be added to the loan, a free standard valuation and a 10% overpayment facility.
The Tipton will lend up to £450,000 at 75% LTV on these products, subject to affordability criteria. The new fixed rate products are available for home purchases and remortgage. Those remortgaging to The Tipton on these products will also benefit from free standard legal fees or £150 cashback if they choose to use their own solicitor.
For anyone looking to purchase a purpose-built retirement property, The Tipton can help. Later life lending products are available to anyone aged 55 and over, with no upper age limit as long as affordability assessment is satisfactory.
The Tipton’s Director of Sales & Marketing, Cammy Amaira, says: “The launch of the later life fixed rate products affirms our commitment to enable people to own their home at all stages of life. By providing a fixed rate product, those who are approaching retirement, or already retired, can manage their budget around a set monthly payment which they know won’t change.”
For information on the Society’s range of mortgage products, please call 0121 557 2551 open Monday to Friday 9am to 5pm and between 9am and 12pm on Saturdays. Alternatively visit www.thetipton.co.uk
Your home may be repossessed if you do not keep up repayments on your mortgage.
The Tipton & Coseley Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Society’s Firm Reference Number is 159601. The Society is a member of the Building Societies Association. Head Office: 70 Owen Street, Tipton DY4 8HG.