5.49% Fixed Rate Mortgage for 2 Years - Consumer Buy to Let

Interest Only

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 £700

Valuation Fee paid to The Hanley Economic Building Society on application and is non-refundable after valuation is carried out. The fee charged is dependent upon the price of the property. See fee scale for cost (Mortgage & Valuation Charges | The Hanley)

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% (following the fixed rate period),

Minimum Loan: £30,000
Maximum Loan: Up to £500,000
Please refer to the following page for more information https://www.thehanley.co.uk/maximum-ltv-and-loan-amounts

Minimum Loan: £30,000

Maximum Loan: £750,000 at 80% LTV, £1,000,000 at 70% LTV, £1,500,000 at 65% LTV, £2,000,000 at 50% LTV (Loans over £500,000 will be considered on an individual basis)

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

Available for properties located in England & Wales.

The Society will pay a proc fee of 0.40% on completion to the intermediary.

This product is available for new mortgage customers only.

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 £1890.60 based on £94,530.00.

A mortgage of £94,530.00 payable over 25 years initially on a Fixed Rate of 5.49% for 2 years and then on our Standard Variable Rate (SVR) of 7.99% (variable) for the remaining 23 years would require 24 monthly payments of
£432.47 and 276 monthly payments of £629.41. The total amount payable would be £279,762.17 made up of the loan amount plus interest (£184,097.17), an arrangement fee of £700, a valuation fee* of £275, a funds transfer fee of £35.00 and a mortgage exit fee of £125.00. The overall cost for comparison is 7.8% 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).