At the Tipton, we understand one mortgage type doesn’t fit all.
We apply common-sense to our underwriting, using experienced case handlers to manually assess and progress each application.
Our approach recently helped broker Anil Patel of Equality Finance get a better remortgage product for his client, halving their existing interest rate.
The borrower’s previous deal had ended and circumstances meant they were looking for a lender who accepts payments from a trust fund as an income source.
We were able to offer a three year fixed rate with the Tipton on an interest only basis over a maximum term of 16 years. An arrangement fee was payable, but the deal did include cashback contributions towards both valuation and legal fees.
Being on a more competitive rate of interest lowered monthly payments by just over £2,600.
Paul Sawford, a business development manager at the Tipton, said: “We always work in close partnership with our brokers to find solutions to satisfy their clients’ needs.
“While the use of trust income made this case slightly more complex, we were confident we could help the borrower achieve substantial savings, especially when viewed over the full mortgage term.
“We kept in regular contact with Anil throughout the process and I know the final outcome is something both he and his client are extremely pleased with.”
The Tipton are a Midlands-based building society lending on properties throughout England and Wales. To discuss a case, or discover more about our products, call us on 0121 521 4000, email newbusiness@thetipton.co.uk or visit www.thetipton.co.uk/intermediaries.