Tipton and Coseley Building Society Launch Switch to Fix Mortgages
We announce the launch of new Switch to Fix mortgage products to support homebuyers looking to purchase a new home or remortgage with us.
The launch of Switch to Fix products will allow customers to initially take out a variable discounted product over a three-year period. However, 12 months before the end of the product, customers can choose to switch to a fixed rate product from our existing customer mortgage range without incurring any early repayment charges. If we do not have a fixed rate account to offer customers at that time, then customers are able to switch to another lender without incurring any early repayment charges.
Key features
We have two purchase products available, one at 4.54% initial rate, equivalent to a 3.10% discount from the standard variable rate (SVR), currently 7.64% until 31 July 2026 followed by our SVR for the remaining term. Maximum LTV 75% with a £999 arrangement fee. The overall rate for comparison is 7.1% APRC.
Alternatively, a 4.84% initial rate, equivalent to a 2.80% discount from the SVR, currently 7.64% until 31 July 2026 followed by the SVR for the remaining term. Maximum LTV 90% with a £999 arrangement fee. The overall rate for comparison is 6.8% APRC.
Remortgage products available include one at 4.59% initial rate, equivalent to a 3.05% discount from the SVR, currently 7.64% until 30 April 2026 followed by the SVR for the remaining term. Maximum LTV 75% with a £999 arrangement fee. Up to £350 valuation fee contribution and fees assisted legals. The overall rate for comparison is 6.8% APRC.
Alternatively a 5.09% initial rate, equivalent to a 2.55% discount from the SVR, currently 7.64% until 30 April 2026 followed by the SVR for the remaining term. Maximum LTV 90% with a £999 arrangement fee. Up to £350 valuation fee contribution and fees assisted legals. The overall rate for comparison is 7.1% APRC.
Jason Newsway, Sales and Marketing Director at the Tipton said: “With much uncertainty in the mortgage market over the direction of fixed rates, we have responded by providing customers with some alternative solutions. These products provide customers with flexibility securing a discounted variable rate with the option of switching to a fixed rate deal during the last 12 months without incurring any early repayment charges.”
To talk to us, you can call the Intermediary Desk on 0121 521 4000, or email newbusiness@thetipton.co.uk. Visit www.thetipton.co.uk/intermediaries for more information.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE. Terms and conditions apply. All mortgage applications are subject to lending criteria and underwriting. Products can be withdrawn at any time. Products and rates can change at any time. The Tipton and Coseley Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Society's Firm Reference Number is: 159601. The Society is a member of the Building Societies Association. Head Office: 70 Owen Street, Tipton, West Midlands, DY4 8HG.