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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
5.09% fixed rate until 31 January 2030
5.09%
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.
8.29%
the overall cost for comparison is 7.4% APRC

Fixed until 31/01/2030 . Early Repayment Charges apply. . This product may be withdrawn at any time.

Product key features

  • Key features
  • Product related fees
  • Mortgage amounts
  • Mortgage repayment terms
  • Early Repayment Charges
  • Mortgage tariff of charges
  • Representative example
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. If you choose to take the arrangement fee off the 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 35 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 January 2025;
  • 5% of the amount repaid until 31 January 2026; 
  • 4% of the amount repaid until 31 January 2027;
  • 3% of the amount repaid until 31 January 2028; and
  • 2% of the amount repaid until 31 January 2030.

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 £142,500 payable over 35 years initially on a fixed rate until 31 January 2030, currently 5.09% and then our SVR, currently 8.29%, for the remaining term would require an initial payment of £757.57 followed by 59 monthly payments of £732.48 and 360 monthly payments of £1,018.34.

The total amount payable would be £411,121.29 made up of the mortgage amount plus interest (£268,071.29), with an arrangement fee of £999, a mortgage valuation fee of £250, 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.

Your mortgage stepping stones

tools and guides
FAQs
  • Do you credit score mortgage applications?

    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?

    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.

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  • What Government schemes do you accept?

    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?

    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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  • What documents do you need to apply for a mortgage?

    To complete a mortgage application you will need:

    • Most recent P60;
    • Latest two months, salary fed bank statements;
    • Latest two months pay slips;
    • Last two years’ SA302s or limited company accounts (if self-employed) along with last two tax year overviews;
    • Accountants details (if self-employed);
    • Acceptable proof of address and personal identification;
    • Home improvement quotations (if applying for additional borrowing or remortgaging with additional borrowing included);
    • Coal Authority Report (for properties with a coal mine);
    • Offer notice (if you are purchasing under the Right to Buy scheme);
    • Employers contact details;
    • Proof of deposit;
    • Rent statement and landlords contact details (if renting);
    • Solicitors contact details;
    • Estate agents contact details; and
    • Tenancy Agreements for any buy to let properties you have.
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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
contact 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
Mortgage customer read more

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
Mortgage customer read more

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