Cammy Amaira, director of sales and marketing at The Tipton and Coseley Building Society, told Specialist Lending Solutions that the mutual was at the early stages of its process.
“These are the two options and its logical to look at this as the next step,” he said.
“I’m building the case to take to the board, looking at the size of the market and who is in it and doing all the ground research.
“We’ll present it in the next couple of months and hopefully have a decision then,” he added.
Longer fixed terms coming
Amaira also noted that he would not be surprised if lenders continued stretching the length of fixed rate deals that were available, although that was not something Tipton was able to do yet.
“We’ve seen five-years become seven and then ten, so I wouldn’t be surprised if we get to 15 or 20 years at some point in the near future,” he said.
But he added that if long term fixes become more common lenders and brokers would need to look at different structures for procuration fees.