5.35% Fixed Rate Shared Ownership Mortgage for 2 Years

Capital & Interest

No application or arrangement fees

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

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

One Free Valuation

Minimum £30,000 Maximum £600,000.
Please refer to the following page for more information which details limits by lending type and basis https://www.thehanley.co.uk/maximum-ltv-and-loan-amounts.

Purchase 95%.
Remortgage 95%.

Available for properties located in England and Wales

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

This product is available for new mortgage customers only.

If this mortgage is repaid in full, or in part, before 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 £2,080.00 based on an initial mortgage balance of £104,000.00.

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 or in a lump sum. Any additional overpayments above 10% during this period will attract an early repayment charge calculated on the amount of the additional payments.

A mortgage of £104,000.00 payable over 34 years initially on a Fixed Rate of 5.35% for 2 Years and then on our Standard Variable Rate (SVR) of 7.84% (variable) for the remaining 32 years would require 24 monthly payments of £553.86 and 384 monthly payments of £723.96. The total amount payable would be £291,454.25 made up of the loan amount plus interest (£187,294.75), a CHAPS fee of £35.00, a mortgage exit fee of £125.00. The overall cost for comparison is 7.6% APRC representative^.

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).