Tipton & Coseley Building Society Equity Release
Tipton & Coseley Building Society Lifetime Mortgage Review
Are You Considering Tipton & Coseley Building Society Equity Release? What are the Pros & Cons? What are the Costs? Discover If Tipton & Coseley Building Society Plans are for You.
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Tipton & Coseley Building Society Equity Release Review
I think you’ll agree with me when I say:
It’s REALLY hard to choose the best equity release provider with all the choices available.
Or is it?
Is Featured Image equity release the best?
Choosing the best equity release brand can be challenging! If you want to join the over 10,000 UK citizens who’ve unlocked equity this year, you’ll want to listen to this advice.
With so many brilliant options on the market, you could end up selecting the wrong equity release lender, only to regret it later.
Don’t worry; we’ve got your back. We’re here to share detailed information about the best equity release brands on the market, to help you make a sound decision.
On this page, we’ll be covering:
We’ve spent endless hours gathering the latest brand information with multiple expert consultations and a detailed review of over 350 brands in the industry.
Let’s take a look!
What Is Equity Release?
Equity release is an umbrella term for a later-life mortgage that allows you to unlock equity from your property while remaining in your home. While there are plans with an optional loan or interest repayments, both are only due when you pass away or move to a long-term care facility. The amount is usually covered from the sale of the home.
How Does Equity Release Work
If you (and your spouse) are 55 or older, you might qualify for an equity release loan. The age of the youngest homeowner will be considered. Furthermore, some schemes require you to be 60 or 65.
You might qualify for equity release if you own a home in the UK that is valued at £70,000 or more.
Discover More: What’s Equity Release & How Does It Work?
Equity Release Types
There are two equity release options available to you.
- Lifetime mortgage: is a mortgage secured on your property (provided it’s your main residence), while retaining ownership.
- Home reversion: is where you sell part or all of your home to a home reversion provider in return for a lump sum or regular payments. You have the right to continue living in the property until you die, but you have to agree to maintain and insure it.
The Most Popular Equity Release Uses
- Gaining access to tax-free cash to supplement retirement income.
- Paying off a mortgage, debts, or loans.
- Giving money to family members and children who might need an income boost.
- Taking a dream trip.
- Buying the car of one’s dreams.
- Renovating one’s home or garden, which also should increase the property value.
We’ve got the scoop: 10 Equity Release Uses to Inspire You
What You MUST Know About the Providers We Compare
- They’ve helped more than 1 million people decide whom to turn to when releasing equity from their homes.
- They’ve been responsible for organising 1 in 3 plans that the Equity Release Council
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What You MUST Know About the Providers We Compare
Who Are Tipton & Coseley Building Society?
The Tipton & Coseley Building Society is a UK building society, which has its head office in Tipton, West Midlands. It is a member of the Building Societies Association. Its headquarters are in Owen Street, Tipton town centre, where they had been based since relocating from a building in High Street in August 1992.
On May 1, 1901, Tipton & District Permanent Benefit Building Society was established, becoming one of nearly 2,000 building societies in the United Kingdom.
The inaugural subscription meeting was held on July 1, 1901, at 30 Owen Street in Tipton. Every week, each subscription is fixed at 2/6d or 1/3d. Late payments are subject to penalties, and investors must even pay for their own passbook! We had 53 members by September.
They renamed themselves to Tipton & Coseley Permanent Building Society due to the success of their Coseley office. In 1972, the word ‘permanent’ was eliminated from their name. The number of permanent building societies had shrunk to 1,007, but their combined assets had risen to £555 million from £59 million at the turn of the century.
Building societies had a golden era in the 1960s and 1970s. Only 287 societies remained in 1979, yet their total assets now surpass £45 billion. They continue to thrive; their Sedgley office is a big success, and by the early 1980s, we had added offices in Dudley and Bilston, firmly establishing themselves in the Black Country.
For the first time, their assets surpass £100 million, and they have relocated to a freshly created, purpose-built headquarters. Their branch offices are also being renovated, with cutting-edge computer systems installed to help them expand our mortgage and savings offerings.
Common Questions About Tipton & Coseley Building Society & Lifetime Mortgages
Not What You’re Looking For?
Take a look at our comprehensive list of equity release companies available on the market to see if there’s something better suited to your needs.
Editorial Note: This content has been independently collected by the EveryInvestor advisor team and is offered on a non-advised basis. EveryInvestor may earn a commission on sales made from partner links on this page, but that doesn’t affect our editors’ opinions or evaluations. Learn more about our editorial guidelines.
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