Our mortgage customers say...
Mortgage customer read more"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage."Mrs Main
Fixed until 30/11/2029 . Early Repayment Charges apply. . This product may be withdrawn at any time.
Shared Ownership allows borrowers to purchase part of a property, while renting the other part. You will buy a share of between 25%-75% of a property and pay rent to a Housing Association landlord on the rest.
At the Tipton, we will consider lending up to 95% of the share you are buying. We will only consider applications where the Housing Association will allow you to buy more shares in the property, up to 100% of the property value (this is known as ''staircasing''). We will only consider applications in England and require the lease on the property to have a minimum of 85 years remaining at the point of your application.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
There is a minimum mortgage amount of £50,000.
This product has a maximum mortgage amount of £1,000,000.
The maximum loan to value is 95% of the share of the purchase property.
We have a minimum property value of £100,000 which increases to £250,000 for properties located within the M25 corridor.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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 HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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:
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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 HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
A mortgage of £142,500 payable over 35 years initially on a fixed rate until 30 November 2029, currently 5.09% and then our SVR, currently 8.44%, for the remaining term would require an initial payment of £747.29 followed by 59 monthly payments of £727.38 and 360 monthly payments of £1,025.46.
The total amount payable would be £413,378.31 made up of the mortgage amount plus interest (£270,328.31), a mortgage valuation fee of £250, 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 HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
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.
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.
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.
If you are self-employed, we will need proof of trading for a minimum of two years and you must be able to provide proof of income over the same period.
We will consider long term sub-contractors on an employed basis as long as you can prove:
We will also require your 'employer' to confirm your start date, your monthly earnings and that your services on a 'sub-contracting' basis will continue for the foreseeable future, so no fixed end date.
To complete a mortgage application you will need:
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"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage."Mrs Main
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.