"This latest rate cut combined with our recently announced downsizing criteria change for later life mortgages clearly demonstrates our commitment to this market."
The rate cuts apply to all later life fixed rates, including Tipton’s retirement interest-only products.
The Society recently amended its later life lending criteria to introduce a downsizing option upon the death of either borrower.
Richard Groom, head of mortgage sales at the Tipton, said: “The Tipton has a great reputation for supporting the needs of later life customers. This latest rate cut combined with our recently announced downsizing criteria change for later life mortgages clearly demonstrates our commitment to this market.
"What’s more, we will continue to listen to brokers and their customers to ensure we stay at the forefront in later life lending.”
