"By providing a fixed rate product, those who are approaching retirement, or already retired, can manage their budget around a set monthly payment"
A three-year fixed rate is available at 3.09% and a five-year fixed rate starts at 3.29% up to 75% LTV. Both products have an arrangement fee of £499 that can be added to the loan, a free standard valuation and a 10% overpayment facility.
The Tipton will lend up to £450,000 for purchase and remortgage. Remortgage products also benefit from free standard legal fees or £150 cashback.
The Tipton's later life lending products are also available to those purchasing a purpose-built retirement property, with no upper age limit as long as affordability assessment is satisfactory.
Director of sales and marketing, Cammy Amaira, said: “The launch of the later life fixed rate products affirms our commitment to enable people to own their home at all stages of life. By providing a fixed rate product, those who are approaching retirement, or already retired, can manage their budget around a set monthly payment which they know won’t change.”
