5.79% Fixed Rate Mortgage for 5 Years- Retirement Interest Only

Interest Only

No application fee or arrangement fee

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

One Free Valuation

Minimum Loan: £30,000 Maximum Loan: £2,000,000 at 50% LTV, £1,500,000 at 65% LTV Please refer to the following page for more: information: https://www.thehanley.co.uk/maximum-ltv-and-loan-amounts

Purchase 65%
Remortgage 65%

Available for properties located in England, Wales & mainland Scotland (Islands by referral).

This product is available for new mortgage customers only

If this mortgage is repaid in full or in part during the first 5 years, an Early Repayment Charge (ERC) will apply. This charge will be 2% of the balance repaid during this period. However, no ERC will apply in the event of the account holder’s death or if they permanently move into long-term care Example – The maximum early repayment charge you could pay is £2,000.00 based on £100,000.00.

Overpayments of up to 10% of the mortgage balance are permitted each anniversary year for the first 5 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.

No Higher Lending Charge is applicable

A mortgage of £100,000.00 payable over 55 years initially on a Fixed Rate of 5.79% for 5 Years and then on ourStandard Variable Rate (SVR) of 7.99% (variable) for the remaining 53 years would require 60 monthly payments of£482.50 and 600 monthly payments of £665.83. The total amount payable would be £528,448.00 made up of the loan amount plus interest (£428,499.80),. The overall cost for comparison is 7.9% APRC representative^

Call us on 01782 255000.

Lines are Open 9.00am to 5.00pm Monday to Friday, Saturdays 9am to 12.00pm.

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