5 year fixed shared ownership 95% LTV

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 the 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 application.

YOUR PROPERTY 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.

Product incentives

Free standard valuation: We will contribute up to £350 towards the cost of a valuation. To see our valuation fees, please click here.

Legal fees cashback: You will receive £250 cashback from the society towards your legal costs.

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%.

We have a minimum property value of £100,000 which increases to £250,000 for properties located within the M25 corridor.

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 40 years. Maximum term will depend upon individual circumstances, for example applicant age and leasehold property restrictions.

YOUR PROPERTY MAY BE REPOSESSED 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 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. To view these, please click here.

YOUR PROPERTY 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 5.19% and then our SVR, currently 8.29% for the remaining term would require an initial payment of £762.18 followed by 59 monthly payments of £741.70 and 360 monthly payments of £1,019.58.

The total amount payable would be £411,871.28 made up of the mortgage amount plus interest (£269,071.28), with an arrangement fee of £999, a telegraphic transfer fee of £25 and mortgage exit fees of £125.

The overall cost for comparison is 7.3% APRC representative.

YOUR PROPERTY MAY BE REPOSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.