Tipton & Coseley Building Society has announced the launch of its new Switch to Fix mortgage products today, aimed at supporting homebuyers looking to purchase a new home or remortgage with Tipton.
The Switch to Fix products offer customers an initial variable discounted product over a three-year period, with the option to switch to a fixed-rate product from Tipton’s existing customer mortgage range 12 months before the end of the term, without incurring early repayment charges.
Key features of the purchase products include a 4.54% initial rate with a maximum LTV of 75% and a £999 arrangement fee, and a 4.84% initial rate with a maximum LTV of 90% and a £999 arrangement fee. Remortgage products feature a 4.59% initial rate with a maximum LTV of 75% and a £999 arrangement fee, and a 5.09% initial rate with a maximum LTV of 90% and a £999 arrangement fee.
Jason Newsway, sales and marketing director at Tipton, said: “With much uncertainty in the mortgage market over the direction of fixed rates, Tipton has responded by providing customers with alternative solutions.”
He added that the products offer flexibility and the option to switch to a fixed-rate deal during the last 12 months without incurring early repayment charges.
