Mortgage customer read more"What I like about the Tipton is that you are spoken to in plain English, there isn't loads of mortgage jargon"Miss Savell-Boss
2 year discount 75% loan to value
Discounted for 2 years
Early Repayment Charges apply.
This product may be withdrawn at any time.
Product key features
Product related fees
There is an arrangement fee of £999. This fee can be paid up front by deducting the fee from the amount you borrow. Alternatively you can add the fee to the mortgage amount.
If you add the fee to your mortgage you will pay interest on the fee at the same rate as your mortgage.
There is a minimum mortgage amount of £75,000.
This product has a maximum mortgage amount of £450,000.
There is a minimum property value of £250,000 for properties located within the M25 corridor.
The maximum loan to value is 75%.
Interest rate floor
The interest rate is floored and cannot fall below 1.34%.
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:
- 2% of the amount repaid during the first year; and
- 1% of the amount repaid during the second year.
Mortgage tariff of charges
The mortgage tariff of charges details the various fees and charges that may apply during the term of your mortgage.
A mortgage of £205,000 payable over 15 years initially on a discounted variable rate for 2 years from inception, currently 1.34% (equal to a 3.65% discount from our SVR) and then our SVR, currently 4.99% for the remaining term would require an initial payment of £1,271.51 followed by 23 monthly payments of £1,263.94 and 156 monthly payments of £1,578.16.
The total amount payable would be £277,235.09 made up of the mortgage amount plus interest (£71,535.09) with a mortgage arrangement fee of £999, a mortgage valuation fee of £400, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.
The overall cost for comparison is 4.1% APRC representative.
We are here to help you...
- Discuss any queries
- Book a mortgage appointment
- Find out how much you can borrow
- Complete your application
Mortgage customer read more"I always recommend the Society to my friends and family and will do in the future, I know many people have taken me up on my recommendation and have been equally as happy as I am."Mrs Main
Your home may be repossessed if you do not keep up repayments on your mortgage.