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
monthy repayment
£503.81
This figure is a projection only and may differ from your actual monthly repayment
arrangement fee
£999
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
1.99%
1.99% fixed until 31 March 2025
followed by our SVR
4.94%
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
4.2%
APRC
Fixed until 31/03/2025 . 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 This product may be withdrawn at any time.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 £999. This fee can be paid upfront by deducting the fee from the amount you borrow. Alternatively, you can add the fee to the mortgage amount. If you add the arrangement fee to the mortgage you will pay interest on the fee at the same rate as your mortgage.
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 £500,000.
There is a minimum property value of £75,000 for properties located outside of the M25 corridor. There is a minimum property value of £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 35 years.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Early Repayment Charges
Up to 10% of the original mortgage amount can be overpaid 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:
- 4% of the amount repaid until 31 March 2022;
- 3% of the amount repaid until 31 March 2023;
- 2% of the amount repaid until 31 March 2024; and
- 1% of the amount repaid until 31 March 2025.
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.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Representative example
A mortgage of £176,000 payable over 23 years initially on a fixed rate until 31 March 2025, currently 1.99% and then our SVR, currently 4.94% for the remaining term would require an initial payment of £809.40 followed by 37 monthly payments of £799.74 and 238 monthly payments of £1,036.95.
The total amount payable would be £277,768.88 made up of the mortgage amount plus interest (£101,193.88) with an arrangement fee of £999, a mortgage valuation fee of £275, legal fees of £150, 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.
Your discount mortgage toolbox
tools and guides
FAQs
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- How much can I borrow?
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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.
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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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- How do I apply for a new mortgage product?
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If you have received a rate switch made easy letter from us containing your unique reference code and product options, you are eligible to apply to choose your own mortgage product on an Execution Only basis without receiving advice from us. Let us know which product you’d like to proceed with by completing our online rate switch form, emailing rateswitch@thetipton.co.uk, calling us on 0121 521 4046, or posting the form back to us using the pre-paid envelope.
If you would prefer to receive advice, or if you are not eligible for Execution Only, please arrange an appointment with one of our Mortgage Advisers, you can do this by calling us on 0121 521 4046 or completing our online contact form.
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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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- 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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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.