Mortgage customer read more"When I was looking for my mortgage I wanted a lender who was reputable and trustworthy. I was recommended to Tipton & Coseley by a member of the family."Mrs Main
2 year discount 65% loan to value
Discounted until 31/01/2020.
Early Repayment Charges apply.
This product may be withdrawn at any time.
Product key features
Product related fees
There is a £99 booking fee that must be paid on application. This fee is non-refundable and non-transferable.
Valuation fee contribution: We will contribute £275 towards the cost of one standard mortgage valuation.
There is a minimum mortgage amount of £50,000.
This product has a maximum mortgage amount of £450,000.
There is a minimum property value of £75,000 which increases to £250,000 for properties located within the M25 corridor.
The maximum loan to value is 65%.
Interest rate floor
The interest rate is floored and cannot fall below 1.29%.
Mortgage repayment terms
The minimum repayment term is 5 years and the maximum repayment term is 35 years.
Early Repayment Charges
Up to 10% of the original mortgage amount can be repaid each year without charge. If the mortgage is redeemed or switched to another product during the discount rate product term then an Early Repayment Charge will apply.
The Early Repayment Charge will be calculated at:
- 3% of the amount repaid until 31/01/2018;
- 2% of the amount repaid until 31/01/2019; and
- 1% of the amount repaid until 31/01/2020.
A mortgage of £200,000 payable over 17 years initially on a discounted variable rate until 31 January 2020, currently 1.29% (equal to a 3.45% discount from our SVR) and then our SVR, currently 4.74% for the remaining term would require an initial payment of £1,099.42 followed by 27 monthly payments of £1,092.34 and 176 monthly payments of £1,382.19.
The total amount payable would be £274,257.04 made up of the mortgage amount plus interest (£73,858.04) with a booking fee of £99, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.
The overall cost for comparison is 3.9% APRC representative.
|Monday - Tuesday||09:00 - 17:00|
|Wednesday||09:30 - 17:00|
|Thursday - Friday||09:00 - 17:00|
|Saturday||09:00 - 12:00|
We are here to help you...
- Discuss your mortgage
- Answer any questions
- Check how much you can borrow
- Help with your application
Your home may be repossessed if you do not keep up repayments on your mortgage.