Interest Only (Applicants must meet the Society's Interest Only Criteria).
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 £999.00.
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 £35.00.
The interest rate on this product will not drop below 2.00%.
One Free Standard Mortgage Valuation.
Minimum £10,000 Maximum £1,000,000.
Please refer to the following page for more information which details limits by lending type and basis Maximum LTV and Loan Amounts | The Hanley
Purchase 70%
Remortgage 70%
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, 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 £2,000.00 based on an initial mortgage balance of £100,000.00.
There are no restrictions for overpayments. Overpayments may be made by monthly standing order, or in a lump sum.
No Higher Lending Charge is applicable
A mortgage of £100,000.00 payable over 39 years initially on a discounted variable rate of 5.29% which represents a 2.45% discount off the Society's Standard Variable Rate (SVR), for 2 Years and then on our SVR of 7.74% (variable) for the remaining 37 years would require 24 monthly payments of £440.83 and 444 monthly payments of £645.00. The total amount payable would be £398,119.00 made up of the loan amount plus interest (£296,960.00), an arrangement fee of £999.00, a CHAPS fee of £35.00, a mortgage exit fee of £125.00. The overall cost for comparison is 7.6% APRC representative^.
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