Tipton introduces new mortgage products
THE Tipton and Coseley Building Society has launched a range of discounted mortgages giving local people access to a wider range of mortgage options.
Available for both mortgages and remortgages, there is a two-year product which offers a discount of 1.5% until March 31, 2012 for customers needing up to 75% loan to value, giving an initial applied rate of 3.49%.
Higher mortgages of between 75 to 85% have lower discounts of between 1.2 to 0.7%.
The society has also introduced a three-year product with a discount of 1.3%, giving an initial applied rate of 3.69%. This is for mortgages or re-mortgages up to 75%. After this, other rates apply.
All the new products have a 0.4% arrangement fee which will be added to the loan and early repayment charges will apply during the discounted rate period.
The new mortgage products are being offered to the society’s existing customer base as well as new borrowers.
However, the new mortgage options are only available to people who live within the immediate local area for the Tipton – covering households whose postcodes begin with DY, WV, WS or B.
Richard Groom, the Tipton’s business development manager said: “We are committed to offering local people highly competitive mortgage rates and believe that these newly introduced mortgages provide just that.”
