Capital raising is now available up to 80% LTV for the below reasons:
- home improvements (please note, where Local Authority approval is required this will need to be evidenced);
- to buy additional land;
- purchase of a freehold or lease extension;
- to repay an equity loan; or
- for family gifts or weddings.
All capital raising applications are subject to a maximum of 80% of the property value. Capital raising is not allowed for commercial purposes.
Debt consolidation is now also available, up to either 75% LTV or £50,000 (whichever is the lower), on a capital and repayment basis only. Where there is previous history of debt consolidation, applications will not be considered. Debt consolidation applications can only be considered when submitted via a broker and not via the Society’s direct channel. Please note, the total amount of debt to be consolidated cannot exceed 50% of the applicants’ total gross salaries.
For more information, visit www.thetipton.co.uk/intermediaires. To get in touch, click here or email newbusiness@thetipton.co.uk
