Tipton & Coseley reveal later life lending mortgages

Jessica Nangle

August 21, 2019

Tipton & Coseley Building Society has unveiled two fixed rate mortgages for later life lending.

The products are available to intermediaries and direct customers.

There is a 3-year product fixed at 3.09% and a 5-year product fixed at 3.29%.

Both products have an arrangement fee of £499 which can be added to the loan, a free valuation and a 10% overpayment facility.

The Tipton will lend up to £450,000 at 75% LTV on these products, subject to affordability criteria.

The new fixed rate products are available for home purchases and remortgage and the later life products are available to anyone aged 55 and over.

Cammy Amaira, director of sales and marketing at The Tipton, said: “The launch of the later life fixed rate products affirms our commitment to enable people to own their home at all stages of life.

“By providing a fixed rate product, those who are approaching retirement, or already retired, can manage their budget around a set monthly payment which they know won’t change.”

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