2.14% Self-Build Interest Only - Variable Discount Mortgage for 2 Years (Arrears) Mayflower Exclusive

Interest Only for the Term of the Mortgage- (Applicants must meet the Society's Interest Only Criteria)

£299 Application fee (non-refundable)
£1700 Arrangement fee (deducted from the loan on completion)
Valuation fee- subject to value of property value*

A valuation fee is payable. See fee scale for cost

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

None.

Minimum £30,000 Maximum £1,000,000.
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 - 80% (Land/Construction or Renovation End Valuation)
Remortgage - 80% (Land/Construction or Renovation End Valuation)

There are no restrictions for overpayments. Overpayments may be made by monthly standing order, or in a lump sum.

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

Procuration Fee The Society will pay a procuration fee of 1% on completion to Mayflower Mortgage & Finance LTD via Legal and General Mortgage Club

This product is available for new mortgage customers only.

There is no early repayment charge.

A mortgage of £258,000.00 payable over 28 years initially on a discounted variable rate of 5.60% which represents a 2.14% discount off the Society's Standard Variable Rate (SVR), for 2 Years and then on our SVR of 7.74% (variable) for the remaining 26 years would require 24 monthly payments of £1,204.00 and 312 monthly payments of £1,664.10. The total amount payable would be £808,669.20 made up of the loan amount plus interest (£548,095.20), an application fee of £299.00, an arrangement fee of £1,700.00, a valuation fee of £415.00, 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).