Tipton are a successful independent Building Society, who are committed to offering a highly efficient and personal customer service and developing strong working relationships with brokers. This is achieved by offering a combination of competitive mortgages and common sense underwriting.
Applicants with a Tier 1 or 2 visa can be accepted subject to:
- 12 months UK residency
- minimum of 24 months remaining on their visa
- Gifted deposits are acceptable subject to standard gifted deposit policy
- Up to 80% LTV
Applicants with Pre-settled status can be accepted subject to:
- Gifted deposits are acceptable subject to standard gifted deposit policy
- Up to 85% LTV
Up to 5.5x Income
- On any discount product (except shared ownership)
- Roughly £60k of income required to get 5x
- Roughly £75k of income required to get 5.5x
Latest Year’s Income for Self Employed
- Where latest year is within 20% increase of previous year
- Use salary + dividends for directors
Shared Ownership
- Up to 95% LTV
- Includes apartments
- Minimum % ownership is 25
- Maximum % ownership is 75 (unless staircasing to 100%)
Interest Only
- Up to 70% LTV (using sale of mortgaged property)
- Minimum equity £200k
- No minimum income requirement
JBSP
- Joint borrower can reside in the property without being named on the deeds
- Joint borrower doesn’t need to be a homeowner (unless they are a sibling)
- Where LTV is 80% or under can do ‘split term’ to take term beyond older borrower’s retirment age
To discuss Tipton BS call our sales team on 01403 272625 or email sales.team@impactsf.co.uk
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