Tipton & Coseley Building Society
Tipton & Coseley Building Society

Tipton & Coseley Building Society

Here at The Tipton, we are a successful building society based within the heart of the West Midlands. Providing mortgages throughout England and Wales since 1901, we are committed to providing excellent customer service and dedicated to helping our brokers help their clients.

Our mission is to enable people to buy their own homes at all stages of life. We do this through a range of mortgage products, and a manual underwriting process.

Proc Fees

Product Gross Net
Fee Min Max Fee Min Max
Residential 0.42% £225 No max. 0.40% £200 No max.
BTL 0.45% £225 No max. 0.40% £220 No max.
Product Type When does the lender pay PMS? Frequency
All Month following completion Monthly

Lenders send payments by BACS which can take anything up to 5 working days to clear at PMS. PMS then make payment to brokers once the funds have cleared in our account.  


Overview

Geographical restrictions: Lender-InfoBoxWhite

Applications accepted up to 95% LTV across England and Wales.

Properties located in Scotland, Northern Ireland or the Isle of Man will not be accepted.

Minimum value £75,000 (increasing to £250,000 for properties located within the M25 corridor).

Register Lender-InfoBoxWhite

Register to place business with Tipton & Coseley Building Society:

*Please select that you are a PMS Mortgage Club member when registering, placing business or checking existing payment route to ensure you receive the procuration fee quoted by PMS.

Register

The Tipton and Coseley Building Society affordability calculator provides you with an indication of how much they may be prepared to lend your customers.

It is designed for guidance purposes only, actual loan amounts are subject to their usual underwriting requirements and credit check. 

Reasons to talk to the Tipton: 

  • They do not credit score applications 
  • They do not operate a call centre 
  • Easy access to decision makers
  • Common sense approach to underwriting

Unique selling points:

  • Mortgage Surgery: Our mortgage underwriters host a daily Mortgage Surgery, allowing our Intermediary Support Team to discuss any non standard cases. This means we can get an initial decision on your complex cases within 24 hours (all before a DIP has been submitted). Simply call us on 0121 521 4000 to discuss your case.
  • Credit Scoring: Our manual underwriting process means that we can consider each case on its own merits, rather than using computer based decision making systems.
  • Later Life / RIO Mortgages: If your clients are looking to borrow into/during their retirement, our Later Life and RIO mortgage ranges are available to help. We will also consider lending on purpose built retirement properties.
  • Contractors: We will now underwrite long term subcontractors on an employed basis, using gross income to determine their maximum level of borrowing. We also have criteria in place to assist those on short term renewable contracts.
  • Self Employed Applicants: Our lending criteria allows us to consider applications from sole traders, partners and limited company directors. Subject to acceptable proof of income.
  • For more information about The Tipton and our lending criteria, visit our website at www.thetipton.co.uk/intermediaries

Submitting Business

You don’t need to register with us until you’re ready to submit your first application.

We recommend you submit a Decision in Principle (DIP) initially, to allow us to make an initial assessment on the case. You can download a DIP by clicking here.

When you’re ready to submit an application, please complete our online application form on our website. Alternatively, you can use our paper form and send a scanned copy to us at [email protected].

For further details, please click here.


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