Our range of mortgage products have been designed to help borrowers who dream to build their own home.

There is an arrangement fee of 0.5% of the loan amount. This fee can be paid upfront by deducting the fee from the amount borrowed. Alternatively, it can be added to the mortgage amount. There is a minimum arrangement fee of £999. If the fee is added to the mortgage, you will pay interest on the fee at the same rate as the mortgage.

The minimum mortgage amount is £100,000 and the maximum mortgage amount is £600,000. Minimum property values apply upon completion of the build.
The minimum repayment term is 5 years, and the maximum term is 35 years. This product is only available for 2 years from inception, by which time the build should be completed. You can then apply for a suitable product from our mortgage range.

The interest rate is floored, which means the rate on the mortgage cannot drop below 4.39%.

Early repayment charges apply during the product term. Up to 10% of the original mortgage amount can be overpaid each year without charge, however if the mortgage is redeemed or switched to another product during the product term, then the Early Repayment Charge will apply. The Early Repayment Charge will be calculated as follows:
• 2% of the amount repaid for the first year;
• 1% of the amount repaid for the second year.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.

Tipton & Coseley Building Society is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. The Society’s Firm Reference number is: 159601. The Society is a member of the Building Societies Association. Head office: 70 Owen Street, Tipton, West Midlands, DY4 8HG. All applications are subject to lending criteria.

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