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Tipton and Coseley Building Society Equity Release Review (2025): Key Insights

Tipton and Coseley Building Society is praised for its customer service and community focus. While they don't offer traditional equity release products, they provide Retirement Interest-Only (RIO) mortgages for homeowners aged 55 and over, focusing on income-based borrowing with ongoing interest payments.
Tipton Coseley Building Society Equity Release
Evaluating Tipton and Coseley Building Society's Retirement Interest-Only Mortgage: Is This Income-Based Option Right for Your Later Life Lending Needs?
This article contains tops tips from our experts, backed by in-depth research.
Katherine Read
Written by Katherine Read
Bert Hofhuis
Edited by Bert Hofhuis
Paul Sawyer
Reviewed by Paul Sawyer

Contributors:

Francis Hui
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Key Takeaways
  • Tipton and Coseley Building Society focuses on traditional mortgages and savings accounts, catering to a wide range of financial needs beyond equity release.
  • Exploring alternatives to equity release, such as downsizing or taking out a different type of loan, can offer financial solutions without affecting your home ownership.
  • Personalized financial advice is crucial when considering your options, as Tipton and Coseley Building Society does not offer equity release products.
  • Tipton and Coseley's range of savings products may help in planning for retirement, offering secure options for your financial future.
  • Understanding your retirement financing options, including ISAs and pensions, becomes essential as equity release products are not available through Tipton and Coseley Building Society.

Are you thinking of Tipton & Coseley Building Society to provide you with an equity release alternative?

The later-life lending market is made up of many providers and even more schemes which make it very difficult to select the best one for you.

At SovereignBoss, our research team has spent countless hours reviewing equity release an alternative information and putting it together in an easy-to-use format.

In This Article, You Will Discover:

    Let us find out NOW!

    NOTE: SovereignBoss is an impartial and unconnected third-party information provider via this website, and the details provided in this commentary represent the opinions of SovereignBoss only and may not reflect the views or opinions of Tipton & Coseley Building Society. This article must not be interpreted as advice, nor is it a solicitation to conduct transactions in any financial product provided by Tipton & Coseley Building Society.

    What Is Equity Release?

    An equity release mortgage is, in a nutshell, a loan plus interest that is paid back to the lender when the homeowner passes away or goes into permanent care.

    Who Is Tipton & Coseley Building Society?

    Tipton & Coseley Building Society does not offer equity release services or products.

    Instead, they focus on providing a variety of other financial solutions and mortgage options tailored to meet the diverse needs of homeowners.

    Their offerings are designed to support customers in managing their finances effectively, without the option for equity release or leveraging home equity through lifetime mortgages.

    Why Consider Tipton & Coseley?

    You could consider Tipton & Coseley Building Society for a retirement interest-only mortgage - which is an alternative to equity release.

    Here are more reasons to consider Tipton and Coseley:

    • Its history spans back more than a century.
    • This Society has won numerous accolades.
    • With the FCA's2 oversight, Tipton & Coseley is a reliable service provider.

    Does Tipton & Coseley Have an Equity Release Calculator?

    No, Tipton & Coseley does not have an equity release calculator but it does have an affordability calculator available on its website.

    If you are looking for an equity release calculator, try the calculator below and we will connect you with a provider who can almost always match and BEAT any existing equity release quote that you will find elsewhere.

    What Are The Pros and Cons of Tipton & Coseley Building Society?

    There are pros and cons to Tipton & Coseley Building Society, including that it's a trustworthy service provider, but that the inheritance you leave will be devalued.

    Tipton & Coseley Building Society Pros

    Tipton & Coseley Building Society Cons

    • Equity release can negatively affect the inheritance you plan on leaving behind to your heirs.
    • Releasing equity could impact your eligibility for means-tested benefits.
    • Early repayment penalties are applied if you choose to pay your loan off early.

    Customer Reviews

    To find out what Tipton & Coseley clients have to say, read the reviews on these popular sites:

    Tipton & Coseley Building Society's Equity Release Alternative Scheme Information

    Tipton & Coseley, a mutual Building Society since 1901, provides savings, mortgages, and investment services to its members, including retirees with verifiable income.

    Tipton & Coseley's range of mortgage products also includes a specialist ‘later life lending’ mortgage that affords elderly homeowners, with verifiable income access to Retirement Interest Only Mortgages (RIO’s) on their property.

    With branches across the West Midlands existing and future members of The Tipton enjoy honest and professional customer service at all times.

    Regardless of whether you are looking into an equity release plan or an alternative, be sure to discuss all the pros and cons with your financial advisor.

    Equity release, for example, can affect your eligibility for means-tested benefits, can negatively impact the inheritance you plan on leaving to your heirs and can have early repayment fees.

    How Did We Review the Info on Tipton & Coseley and Its Equity Release Alternative?

    We reviewed the information on Tipton & Coseley by gathering all the data on its products and services.

    Our review of Tipton & Coseley is conducted on a 3rd party basis, is independent, and we are not affiliated with it.

    Tipton & Coseley Complaints

    Complaints about Tipton & Coseley Building Society can be made in writing or over the phone.

    You can also leave a review on major review sites like Trustpilot or Feefo.

    Tipton & Coseley Interest Rates and Schemes Compared

    The interest rates offered by Tipton & Coseley are deal-dependent and vary on a case-to-case basis.

    To give you an idea, annual equity release interest can be available from as low as 5.97% to 6.28%* AER.

    View the latest equity release interest rates here.

    Have a look at all the equity release schemes available on the market, with our easy-to-use table or compare the equity release rates!

    *While we regularly review our rates, these may have shifted since our last update.

    What Are Tipton & Coseley's Fees?

    Tipton & Coseley Building Society charges an arrangement fee for its later-life lending options.

    This is currently £4993.

    In terms of equity release, the general fees you pay can range from £1,500 to £3,000.

    Learn More About Tipton & Coseley Building Society

    On May 1, 1901, Tipton & District Permanent Benefit Building Society was established, becoming one of nearly 2,000 building societies in the United Kingdom.

    It was renamed Tipton & Coseley Permanent Building Society due to the success of their Coseley office.

    In 1972, the word ‘permanent’ was eliminated from their name.

    Building societies had a golden era in the 1960s and 1970s. Only 287 societies remained in 1979, yet the total assets amassed surpassed £45 billion.

    In addition to offering a range of products and specific lending criteria, the society is dedicated to helping clients own their homes at all stages of life.

    Everyone can find a mortgage product to suit their needs, whether it is a 100% LTV Family Assist mortgage or a Retirement Interest Only mortgage.

    FCA Details

    Trading Names

    Tipton and Coseley Building Society

    FCA Permitted Services

    • Banking
    • Insurance
    • Mortgages and Home Finance
    • Consumer Credit
    • Investments
    • Other Services

    Regulators

    • Financial Conduct Authority (FCA)
    • Prudential Regulation Authority (PRA)4

    Registration Numbers

    • FCA Ref Number: 159601
    • FCA Reg Number: 0000596B

    FCA and Companies House Link

    Tipton & Coseley Building Society Contact Number and Address

    • +44 121 557 2551
    • newbusiness@thetipton.co.uk
    • 70 Owen St, Tipton DY4 8HG, United Kingdom.

    Common Questions

    Is Tipton and Coseley Building Society a Member of the Equity Release Council?

    What Are the Interest Rates for Tipton and Coseley Building Society's Financial Products?

    Who Owns Tipton and Coseley Building Society?

    What Are the Advantages and Limitations of Tipton and Coseley Building Society's Financial Services?

    How Can I Qualify for Tipton and Coseley Building Society's Services?

    How Does Tipton and Coseley Building Society Equity Release Work?

    Is Tipton and Coseley Building Society's Services Safe and Secure?

    Conclusion

    Tipton & Coseley Building Society is a good choice for later-life lending because it is a multi-award-winning financial services provider.

    The FCA supervises the services it provides and it is a member of the Building Societies Association.

    Although Tipton & Coseley Building Society can not offer you equity release, its alternative lending options for retirees are worth your consideration.

    The features mentioned and the amounts raised, are subject to the lender’s criteria, terms and conditions. These may take into account the age, health and lifestyle factors in order to provide an enhanced amount. To understand the features and risks, ask for a personalised illustration.

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