STop renting, STart owning with ST Rent to Own Mortgage - No deposit needed! - Minimum 12 months rental history required! ST Postcode area only.

STop renting, STart owning with ST Rent to Own Mortgage - No deposit needed! - Minimum 12 months rental history required! ST Postcode area only.

STop renting, STart owning with ST Rent to Own Mortgage - No deposit needed! - Minimum 12 months rental history required! ST Postcode area only.

5.07% Fixed Rate Mortgage for 2 Years

5.07% Fixed Rate Mortgage for 2 Years

Initial Pay Rate

5.07%

Loan to Value

95%

APRC

7.7%

Fees

None

Product Code

MFD650

Information

Early Repayment Charge:

Incentives:

Things you need to know

Repayment Basis

Capital & Interest.

Fees

Arrangement Fee paid to The Hanley Economic Building Society. The fee can be paid on application or deducted from the loan on completion and interest will be charged on the fee. This fee is non-refundable, except in cases where the application does not proceed to completion £299

CHAPS fee is paid to The Hanley Economic Building Society. The fee can be paid on application or deducted on completion of the loan and interest will be charged on the fee. This non-refundable fee covers the electronic transfer of mortgage funds to you or your solicitor, unless the application does not proceed to completion £35

Minimum Interest Rate

The interest rate on this product will not drop below 2.00%.

Incentives

One Free Valuation
£250 cashback will be paid to your solicitors on completion of the mortgage.

Loan Size

Minimum Loan: £30,000 Maximum Loan: £500,000

Maximum Loan to Value

Purchase 95%.
Remortgage 95%.

Property Location

Available for properties located in England, Wales and Scotland (Selected Scottish Islands accepted, please refer to criteria).

Procuration Fee

The Society will pay a procuration fee of 0.35% on completion to the intermediary.

Availability

New Business - All of our savings and mortgage products are only available to UK residents

Early Repayment Charges

If this mortgage is repaid in full or in part during the first 2 years an early repayment charge will apply. This will be 2% of the balance repaid during this period. Example – The maximum early repayment charge you could pay is £3,958.94 based on £197,947.00.

Overpayments

Overpayments of up to 10% of the mortgage balance are permitted each anniversary year for the first 2 years and may be made by monthly standing order. Any additional overpayments above 10% during this period will attract a penalty calculated on the amount of the additional payments.

Higher Lending Charges

No Higher Lending Charge is applicable

Representative Example

A mortgage of £197,947.00 payable over 29 years initially on a Fixed Rate of 5.07% for 2 Years and then on our Standard Variable Rate (SVR) of 7.99% (variable) for the remaining 27 years would require 24 monthly payments of £1,086.94 and 324 monthly payments of £1,444.13. The total amount payable would be £494,445.07 made up of the loan amount plus interest (£296,039.07), a funds transfer fee of £35.00, an arrangement fee of £299, and a mortgage exit fee of £125.00. The overall cost for comparison is 7.7% APRC representative^

Find out More or Apply

Call us on 01782 255000 (selecting option 1 – Hanley Intermediaries then option 1 – New business enquiries).

Lines are Open 9.00am to 5.00pm Monday to Friday (Wednesday 9.30am to 5.00pm).

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