Rise in net savings and mortgage completions for The Tipton

August was The Tipton’s most successful month so far this year for both net savings receipts and mortgage completions.

Last month, net savings receipts topped £4.52 million, more than double the amount in the same month last year and the highest monthly total since July 2010. In addition, mortgage completions amounted to an impressive £6.33 million, a 12 per cent increase on August 2010 and the highest monthly figure since October 2008.

In the year to date, direct mortgage business has increased by 65 per cent, with much of this business coming via the new branch at Sedgley where the mortgage team has been particularly busy since its re-launch in bigger and better premises.

Chris Martin, the Tipton’s chief executive, said: “Both new and existing members are taking up our competitive and comprehensive savings and mortgage products.

“We strive to provide attractive products and the fact that we have enjoyed our most successful month this year means our members clearly recognise this.”

With the Tipton’s ‘Premier 30’, savers with £50,000 or more can benefit currently from 3.25 per cent gross interest on their investment, while those with between £25,000 and £49,999 will earn 3.15 per cent gross and 3.05 per cent gross for savings between £10,000 and £24,999. The account requires a minimum investment of £10,000 and a 30 day notice period for all withdrawals. The rate of interest is variable and includes a 1.80 per cent introductory bonus which is payable for the first 12 months following inception of the account.

For information on the Tipton’s range of mortgage and savings products, visit thetipton.co.uk.