What our mortgage customers say...
Mortgage customer"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
Fixed until 30/04/2026
Early Repayment Charges apply.
This product may be withdrawn at any time.
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 flexible family assist mortgage allows you to borrow 99% of the purchase price or property value (whichever is lower), with the option of a borrower deposit.
In order to apply for the mortgage, we will need 20% of the purchase price or property value (whichever is lower) as security. This 20% security can be made up of a maximum of 10% deposit from your own funds, plus Mum, Dad or relatives can help boost your position on the property ladder, by either accepting the remaining percentage as charge on their own property, or by depositing it 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 the difference between your deposit and 20% of the value into our Family Assist savings account. They are also free to withdraw 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. We would need to secure the difference between your deposit and 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.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Our Family Assist products require us to have 20% security, this is calculated on the purchase price or property value (whichever is lower). This is usually taken in the form of a collateral charge on a family members property or them depositing into our specified savings account.
With our Flexible Family Assist product, the 20% security can be made up of borrower deposit, up to a maximum of 10% of the purchase price or property value, and either the collateral charge or savings options detailed above, in any ratio best suited to you!
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
There is a minimum mortgage amount of £75,000 which increases to £250,000 for properties located outside 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 99%.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The minimum repayment term is 5 years and the maximum repayment term is 35 years.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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 full amount of the Early Repayment Charge will apply.
The Early Repayment Charge will be calculated at:
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
A mortgage of £150,000 payable over 20 years on a a fixed rate until 30 April 2026, currently 3.09% and then our SVR, currently 4.94% for the remaining term would require an initial payment of £851.40 followed by 61 monthly payments of £838.67 and 178 monthly payments of £949.36.
The total amount payable would be £221,721.35 made up of the mortgage amount plus interest (£70,996.35) with a mortgage valuation fee of £275 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 4.2% APRC representative.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
If you have a mortgage with us and would like to rent out your property you will need to notify us. Please call us on 0121 557 2551 or fill in our online contact us form.
Once we have made an offer to you, this will be valid for 6 months.
One of our Mortgage Advisers will assess your affordability during your appointment, however you can use our online affordability calculator to get an idea of what you may be able to borrow. To book an appointment please call us on 0121 557 2551, visit one of our branches or complete our contact us form.
Interest starts accruing on your mortgage from the day your mortgage completes. As we do not collect a payment during the month that your mortgage completes, your first monthly repayment will include this accrued interest and is therefore higher than your normal monthly repayments.
Monday - Tuesday | 09:00 - 17:00 |
Wednesday | 09:30 - 17:00 |
Thursday - Friday | 09:00 - 17:00 |
Saturday | 09:00 - 12:00 |
Sunday | Closed |
What our mortgage customers say...
Mortgage customer"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
What our mortgage customers say...
Mortgage customer read more"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
Your home may be repossessed if you do not keep up repayments on your mortgage.