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
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
1.74%
3.20% discount from our Standard Variable Rate for 2 years
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
4.5%
APRC
Discounted for 2 years . Early Repayment Charges apply. . This product may be withdrawn at any time.
Product key features
- Product related fees
- Product incentives
- Mortgage amounts
- Interest rate floor
- 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 amount you borrow. Alternatively you can add the fee to the mortgage amount. If you add the arrangement 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.
Product incentives
Free standard valuation: We'll cover the cost of a standard valuation on a property valued up to £400,000. Properties valued over £400,000 will receive a contribution of £350 towards the cost.
Fees assisted legals: You have the choice of using our solicitors, where we'll cover the cost of any standard legal fees, or receiving £250 cashback towards your own solicitor's costs. You'll be advised of any non-standard costs that will apply. If you choose to use our solicitors, they'll only act for us and won't provide you with independent advice regarding the mortgage transaction.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Mortgage amounts
The minimum mortgage amount is £50,000 and the maximum is £500,000.
There is a minimum property valuation of £75,000 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.
Interest rate floor
Your interest rate is floored which means that the rate cannot reduce below 1.74%.
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 Early Repayment Charge will apply.
The Early Repayment Charge will be:
- 2% of the amount repaid during the first year; and
- 1% of the amount repaid during the second year.
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 £215,000 payable over 27 years initially on a discounted variable rate for 2 years from inception, currently 1.74% (equal to a 3.20% discount from our SVR) and then our SVR, currently 4.94% for the remaining term would require an initial payment of £846.27 followed by 22 monthly payments of £835.95 and 301 monthly payments of £1,182.14.
The total amount payable would be £375,236.31 made up of the mortgage amount plus interest (£160,061.31) with an arrangement fee of £999, a mortgage valuation fee contribution of £25, a telegraphic transfer fee of £25 and mortgage exit fees of £125.
The overall cost for comparison is 4.5% APRC representative.
YOUR PROPERTY MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.
Tools to get you started
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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- Can I get a mortgage if I'm self-employed or sub-contracted?
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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:
- you have been contracted for a minimum six months with your current contractor and two years continuous employment history within a similar industry;
- a consistent level of income each month;
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.
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We are happy to help you...
- Find the best mortgage for you
- Answer any questions
- Discuss your existing account
- Book a mortgage 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.