The Tipton releases information on its semi-exclusive product

Purchase product

Fixed rate

Product code	Product [1]	Revert to rate	Overall cost for comparison	Maximum LTV%	Maximum loan	Product fees
FE116	2.99% fixed until 28 February 2022	SVR, currently 5.24%	4.9% APRC	5%	£250,000	£999 arrangement fee [2]

Notes

[1] Early Repayment Charges may apply during the product term. Your client can overpay up to 10% of the original mortgage amount each year without charge. If they redeem or switch their mortgage to another product during the product term the full Early Repayment Charge will apply. For further details contact a member of the team.

[2] Arrangement fees can be deducted from the amount borrowed or added to the mortgage.

Income multiples and affordability

Our affordability calculator is available on our website - www.thetipton.co.uk.

Once affordability is satisfied, we apply a 4.5 times income multiple to determine the maximum level of borrowing.

To verify if your clients meet affordability criteria, contact a member of the team directly.

Mortgage packaging

Before you submit an application it’s always beneficial to complete a decision in principle (DIP) application form first. You can access our online form from our website.

On receipt of a DIP, a member of our team will advise whether or not we can assist, and if so, how much your clients are able to borrow. We aim to respond to all DIPs within 24 hours.

To help us reduce the time it takes to issue your clients with their mortgage offer, the following items are required as

standard for all new mortgage applications: certified proof of identification and proof of address;
their last three months, salary fed, bank statements;
their last three months payslips and most recent P60;
their last three years accounts if they are self-employed; and
proof of deposit.

We aim to issue a mortgage offer within 14 working days of receipt of a fully packaged mortgage application.