100% loan to value Family Assist mortgage

Discounted for term

This product may be withdrawn at any time.

arrangement fee
This can be paid up-front or added to the mortgage. Bear in mind that if you add the fee to your mortgage, you'll pay interest on it at the same rate as your mortgage and as a result will pay more interest over the term of your mortgage.
no fee
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
1.75% discount from our Standard Variable Rate for the term of the mortgage.
the overall cost for comparison is 3.6% APRC

Product key features

100% Family Assisted Mortgages

Here at the Tipton, we understand that getting on the property ladder can be hard. But, with the added boost from a family member, they can help you get a mortgage with no deposit. To help overcome these challenges, we have introduced our Family Assist Mortgage.
Our family assisted mortgage allows you to borrow 100% of the property's value, with no borrower deposit. Mum, Dad or relatives can help boost your position on the property ladder, by either accepting a 20% charge on their own property, or by putting 20% of the amount you're looking to borrow into our Family Assist savings account, this is commonly known as a family savings mortgage.

Savings Deposit Option
Your parents or relatives can help you to buy your home by placing 20% of the amount you're looking to borrow into our Family Assist savings account. They are also free to withdrawn their money once you have reached 80% loan to value on your mortgage (you own 20% of the property's value).
We've found that this option is great for family members who want to help you buy your home, while gaining interest on their savings.

Collateral Charge Option
A collateral charge can sound scary. In reality, it is simply a way for the Society to secure your borrowing against your family members property. To allow a mortgage with no borrower deposit, we would need to secure 20% of the total amount you're looking to borrow against a family members' property. To qualify for this option, the family member assisting you would need to own at least 40% of their own home.
It's important to note that the Society will act on this collateral charge as a last resort, and it would only be enforced after all other options have been explored.
This option is great for those whose parents, or family members wish to help boost their position on the property ladder, but do not have the cash to gift.
Please note: A standard valuation will need to be completed on both the purchase property and your family member’s property, at your expense. You'll also need to pay for your own legal costs and your family member’s independent legal advice. We will need your parents or relatives written consent for us to carry out a credit check against them. However, we will not complete any income assessments or further underwriting against your family member. The amount you can borrow is determined by your income and status only.

Mortgage amounts

There is a minimum mortgage amount of £75,000 which increases to £250,000 for properties located within the M25 corridor.

The maximum amount you can borrow is £250,000, increasing to £400,000 for properties within the M25.

The maximum loan to value is 100%.

Interest rate floor

The interest rate on this product cannot fall below 2.99%

Mortgage repayment terms

The minimum repayment term is 5 years and the maximum repayment term is 35 years.

Early Repayment Charges

Our Mortgage Tariff of Charges details the various fees and charges that may apply during the term of your Family Assist Mortgage.

Mortgage tariff of charges

The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage.

Representative example

A mortgage of £539,000 payable over 20 years on a discounted variable rate for the term of the mortgage, currently 3.49% (equal to a 1.75% discount from our SVR, currently 5.24%) would require an initial payment of £3,174.90 and 239 monthly payments of £3,123.21.

The total amount payable would be £750,607.09 made up of the mortgage amount plus interest (£210,622.09) with a mortgage valuation fee of £535 on the purchase property, a mortgage valuation fee of £175 on the family members’ property, legal fees of £300, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 3.6% APRC representative.

Gail, from our mortgage team is here to help 0121 557 2551* Contact Us
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

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What our mortgage customers say...

"I sat down with a Mortgage Adviser who listened to my needs and recommended a suitable product for me, they were very friendly and had a personal approach which gave me peace of mind." Mrs Main
Mortgage customer

What our mortgage customers say...

"At the Tipton I like that you are spoken to in plain English, there isn't loads of mortgage jargon, making it easy to understand." Miss Savell-Boss
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Your home may be repossessed if you do not keep up repayments on your mortgage.