Tipton & Coseley Building Society has launched a range of flexible purchase and remortgage products.
Its Switch to Fix products allows borrowers 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 the lender’s existing customer mortgage range without incurring any early repayment charges.
If the firm does not have a fixed-rate account to offer customers at that time, customers will be able to switch to another lender without incurring any early repayment charges.
The mutual has two purchase products available, one at a 4.54% initial rate, equivalent to a 3.10% discount from its standard variable rate, currently 7.64% until 31 July 2026 followed by its standard variable rate for the remaining term. Maximum loan to value up to 75%, with a £999 arrangement fee. The overall rate for comparison is 7.1% annual percentage rate of charge.
Or, a 4.84% initial rate, equivalent to a 2.80% discount from the lender’s standard variable rate, currently 7.64% until 31 July 2026 followed by its standard variable rate for the remaining term. Maximum LTV up to 90%, with a £999 arrangement fee. The overall rate for comparison is 6.8% annual percentage rate of charge.
The remortgage products the firm has available include one at a 4.59% initial rate, equivalent to a 3.05% discount from the firm’s standard variable rate, currently 7.64% until 30 April 2026 followed by its standard variable rate for the remaining term. Maximum LTV up to 75%, with a £999 arrangement fee. Up to £350 valuation fee contribution and fees assisted legals. The overall rate for comparison is 6.8% annual percentage rate of charge.
Or, a 5.09% initial rate, equivalent to a 2.55% discount from its standard variable rate, currently 7.64% until 30 April 2026 followed by the firm’s standard variable rate for the remaining term. Maximum LTV up to 90%, with a £999 arrangement fee. Up to £350 valuation fee contribution and fees assisted legals. The overall rate for comparison is 7.1% annual percentage rate of charge.
Tipton sales and marketing director Jason Newsway: “With much uncertainty in the mortgage market over the direction of fixed rates, Tipton has 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.”
