Retirement Interest Only 6.00% Fixed Rate Mortgage until 30/11/2028

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 £750.00.

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 (https://www.thehanley.co.uk/intermediaries/mortgage-and-valuation-charges).

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 Valuation

Minimum Loan: £10,000 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, before 30 November 2028 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.

Overpayments of up to 10% of the mortgage balance are permitted each anniversary year until 30 November 2028 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.

No Higher Lending Charge is applicable

A mortgage of £100,000.00 payable over 39 years initially on a Fixed Rate of 6.00% until 30/11/2028 and then on our Standard Variable Rate (SVR) of 7.84% (variable) for the remaining 35 years and 11 months would require 37 monthly payments of £500.00 and 431 monthly payments of £653.33. The total amount payable would be £401,257.77 made up of the loan amount plus interest (£299,932.77), an arrangement fee of £750.00, 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 7.7% APRC representative^.

Call us on 01782 255000.

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