arrangement fee
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.
£999
booking fee
This fee must be paid when you apply for your mortgage.
no fee
initial rate
5.30% fixed rate until 31 March 2029
5.3%
followed by our SVR
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.
8.59%
the overall cost for comparison is 7.4% APRC

Fixed until 31/03/2029 . Early Repayment Charges apply. . This product may be withdrawn at any time.

Product key features

Key features

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.

Product related fees

There is an arrangement fee of £999. 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, 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 £1,000,000.

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.

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 HOME 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:

  • 6% of the amount repaid until 31 March 2024;
  • 5% of the amount repaid until 31 March 2025; 
  • 4% of the amount repaid until 31 March 2026;
  • 3% of the amount repaid until 31 March 2027; and
  • 2% of the amount repaid until 31 March 2029.

YOUR HOME 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 HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Representative example

A mortgage of £170,750 payable over 25 years initially on a fixed rate until 31 March 2029, currently 5.30% and then our SVR, currently 8.59%, for the remaining term would require an initial payment of £1,059.25 followed by 59 monthly payments of £1,034.27 and 240 monthly payments of £1,334.98.

The total amount payable would be £383,076.38 made up of the mortgage amount plus interest (£211,726.38), with an arrangement fee of £999, a mortgage valuation fee of £300, 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.

Here to help you...

  • Answer your questions
  • Find a mortgage suitable for you
  • Book an appointment with one of our Mortgage Advisers
  • Discuss your existing mortgage with us
Laurence, our Mortgage Adviser is here to help 0121 557 2551*
Our lines are open:
Monday - Tuesday09:00 - 17:00
Wednesday09:30 - 17:00
Thursday - Friday09:00 - 17:00
Saturday09:00 - 12:00
SundayClosed
*Calls from landlines are charged at the standard rate. Calls from mobiles may vary.

Our mortgage customers say...

"You soon get to know the people you are dealing with, which helps to take the stress out of your mortgage." Mrs Main
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Our mortgage customers say...

"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
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Your home may be repossessed if you do not keep up repayments on your mortgage.