Tipton and Coseley have launched a semi-exclusive for Club members that builds on its existing Credit Plus Tier 1 range. As the cost of living continues to play a prevalent part in many people’s lives, the Society has added a new criteria led product set called Credit Plus Tier 2. The purpose of Credit Plus Tier 2 is to support a broader range of customers with adverse as well as those applicants that may fall into being considered credit impaired.
High level key criteria:
· Missed payments up to a status 6 (dependant on when they occurred)
· Defaults totalling up to £5,000
· CCJs totalling up to £5,000
· Arrangements to pay & DMPs (maintained for 12+ months) acceptable
The new product range starts at 5.84% with a £999 fee on a 2-year discount product. There are also fixed rate options on offer for both purchases and remortgages, all available up to 80% LTV.
Andy Millard, Head of Mortgage Distribution at the Tipton & Coseley Building Society, said:
“Our objective is to bridge the gap between what regional building societies currently offer and that of more specialist lenders where product pricing maybe prohibitive.
A key part of this semi-exclusive is for brokers to provide us with feedback about the product, the criteria, where we have got things right, and crucially where we can continue to improve them.
It is great to be able to offer this semi-exclusive to Club members and I look forward to seeing how many more mutual customers we can support with this proposition enhancement.”
The Society is keen for cases to be discussed with their T/BDMs to ensure the case supports the individual customer’s circumstance.
For contact details please visit: https://www.thetipton.co.uk/intermediaries/find-a-bdm/