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
monthly repayment
£1279.04
This figure is a projection only and may differ from your actual monthly repayment
arrangement fee
£1499
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.
booking fee
no fee
This fee must be paid when you apply for your mortgage.
initial rate
4.74%
4.74% fixed until 31 October 2027
followed by our SVR
8.44%
Our Standard Variable Rate (or SVR) reflects our cost of lending using a number of factors, including the Bank of England Base Rate. As the SVR is a variable rate it can change at any time.
the overall cost for comparison is
7.4%
APRC
Fixed until 31/10/2027 . Early Repayment Charges apply. . This product may be withdrawn at any time.
Product key features
- Product related fees
- Mortgage amounts
- Mortgage repayment terms
- Early Repayment Charges
- Mortgage tariff of charges
- Representative example
Product related fees
There is an arrangement fee of £1,499. This fee can be taken off the mortgage amount, or you can add the fee to the amount you borrow. If you choose to add the arrangement fee to your mortgage, you will pay interest on the fee at the same rate as your mortgage. If you choose to take the arrangement fee off the mortgage, this will be deducted from the amount you borrow and so, you will need to pay the arrangement fee to your solicitor at completion.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Mortgage amounts
There is a minimum mortgage amount of £50,000.
This product has a maximum mortgage amount of £1,250,000.
We have a minimum property value of £100,000 which increases to £250,000 for properties located within the M25 corridor.
The maximum loan to value is 75%.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Mortgage repayment terms
The minimum repayment term is 5 years and the maximum repayment term is 40 years. Maximum term will depend upon individual circumstances, for example applicant age and leasehold property restrictions.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Early Repayment Charges
Early Repayment Charges apply during the product term. You can overpay up to 10% of the original mortgage amount each calendar year without charge. However, if the overpayment exceeds 10%, the mortgage is repaid in full, or switched to another product before the end of the product term then the full amount of the Early Repayment Charge will apply.
The Early Repayment Charge will be calculated at:
- 4% of the amount repaid until 31 October 2024;
- 3% of the amount repaid until 31 October 2025; and
- 2% of the amount repaid until 31 October 2027.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR 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. To view these, please click here.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Representative example
A mortgage of £177,300 payable over 19 years initially on a fixed rate until 31 October 2027, currently 4.74% and then our SVR, currently 8.44% for the remaining term would require an initial payment of £1,214.33 followed by 36 monthly payments of £1,191.08 and 191 monthly payments of £1,520.67.
The total amount payable would be £335,191.18 made up of the mortgage amount plus interest (£157,241.18) with an arrangement fee of £1,499, a mortgage valuation fee of £350, legal fees of £150, a telegraphic transfer fee of £25 and mortgage exit fees of £125.
The overall cost for comparison is 7.4% APRC representative.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Your discount mortgage toolbox
tools and guides
FAQs
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- Do you credit score mortgage applications?
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We don't operate a computer credit score system, each application is reviewed individually by a real person. At enquiry stage we will complete a credit check and once a full application is submitted we will carry out a full credit application that will leave a footprint on your credit file.
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- What types of property do you lend on?
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We will lend on most properties built using standard construction methods and materials (brick or stone walls with a tiled or slated roof). We can also consider the following property types (subject to valuation):
- Timber framed walls with brick cladding;
- Thatched roof properties;
- Grade 2 listed;
- Prefabricated reinforced concrete (PRC) repaired properties that have the benefit of a 30 year insurance backed guarantee and structural warranty.
However, we will not lend on flats and apartments in blocks above five storeys high and we will not lend on ex-local authority flats or maisonettes.
If you're unsure whether your property type fits our criteria, please contact us and a Mortgage Adviser will be happy to help. Call 0121 557 2551, visit a branch or complete our online form.
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- How much is a valuation fee?
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A standard valuation report is used to calculate how much we will lend you. This is separate from any valuation or survey of the property you might want to commission for your own use. There are other homebuyers or structural survey options available to you at additional cost.
Some of our mortgages offer free valuations and the product pages will tell you if this is the case. Our mortgage valuation charges page will provide details of the costs incurred for both a standard valuation and the more detailed homebuyers report.
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- What Government schemes do you accept?
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We currently accept Right to Buy and Forces Help to Buy schemes. For more information on Government schemes and what we can accept, please see our Government schemes guide.
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- What are your age limits?
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The minimum age for a mortgage applicant is 18 years.
If you are employed or self-employed, standard underwriting will apply where the mortgage term does not extend beyond the state pension date of the highest earning applicant.
We can consider applications where the term will extend beyond the state pension date of the highest earner or where all applicants are already retired and in receipt of pension income however we will require additional criteria to be satisfied.
For more detail you should speak with one of our Mortgage Advisers. Please call 0121 557 2551 or visit one of our branches to book an appointment or complete our online form.
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We are here to help you...
- Discuss any queries
- Book a mortgage appointment
- Find out how much you can borrow
- Complete your application
Zoe, from our mortgage team is happy to help
0121 557 2551*
Our lines are open:
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.
| Monday - Tuesday | 09:00 - 17:00 |
| Wednesday | 09:30 - 17:00 |
| Thursday - Friday | 09:00 - 17:00 |
| Saturday | 09:00 - 12:00 |
| Sunday | Closed |
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.