Our mortgage customers say...
Mortage customer"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage."Mrs Main
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
3.19%
3.19% fixed to 31 August 2024
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
4.7%
APRC
Fixed until 31/08/2024 . 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 This product may be withdrawn at any time.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 up front by deducting the fee from the mortgage amount or added to the amount you borrow.
If you add the fee to your 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 offers a maximum mortgage amount of £400,000.
There is a minimum property value of £75,000 increasing to £250,000 for properties located within the M25 corridor.
The maximum loan to value of this product is 90% of the purchase price or valuation, whichever is lower.
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
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:
- 4% of the amount repaid until 31 August 2021;
- 3% of the amount repaid until 31 August 2022;
- 2% of the amount repaid until 31 August 2023; and
- 1% of the amount repaid until 31 August 2024.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Mortgage tariff of charges
Our mortgage tariff of charges shows the fees and charges that apply during your mortgage term.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Representative example
A mortgage of £202,500 payable over 35 years initially on a fixed rate to 31 August 2024, currently 3.19% and then our SVR, currently 4.94% for the remaining term would require an initial payment of £822.74 followed by 39 monthly payments of £804.90 and 380 monthly payments of £1,002.47.
The total amount payable would be £413,727.44 made up of the loan amount plus interest (£210,652.44), a mortgage 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 4.7% APRC representative.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Tips and tools to help you on your way
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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- How do I find out the current balance on my mortgage?
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You may want to find out the current balance on your mortgage for a number of reasons. At the Tipton, there are a range of ways you can do this via our App or through contacting us directly.
Viewing your mortgage online
The Tipton app allows existing mortgage customers to view their current mortgage balance. You can download our app from the App Store or Google PlayStore. Click here to find out more.Contacting us
Alternatively, you can contact us to request your current mortgage balance. This can be done by writing to our head office at 70 Owen Street, Tipton, DY4 8HG, calling us on 0121 557 2551 or completing our online contact form. We will be able to provide you with an estimated redemption figure. Please note, your redemption figure will include any early repayment charges or other charges included. If you are looking to redeem your mortgage, simply provide us with the date you wish to redeem it, and we can generate a full redemption statement for you.close
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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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- Why is my first repayment higher than the usual repayment?
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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.
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Happy to help you...
- Find a new mortgage
- Answer your mortgage questions
- Discuss your mortgage with us
- Book an appointment
Laurence, our Mortgage Adviser is here 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 |
Our mortgage customers say...
Mortgage customer read more"My experience with the Society has allowed me to get a mortgage I am happy with and I know they are only at the other end of the phone if and when I need them."Miss Savell-Boss
Your home may be repossessed if you do not keep up repayments on your mortgage.