5.35% Fixed Rate Mortgage for 2 Years- Interest Only

This shows what you'll pay each month during your initial deal period. It doesn't consider any charges or fees if you decide to make any changes to your mortgage. Please note this is only an estimate.

5.35% Fixed Rate Mortgage for 2 Years- Interest Only

Initial Pay Rate

5.35%

Loan to Value

80%

APRC

7.6%

Fees

None

Information

Early Repayment Charge: Yes

Incentives: Yes

Product Code

MFD638

Information

Early Repayment Charge: Yes

Incentives: Yes

Affordability Calculator

Things you need to know

Repayment Basis

Interest Only (Applicants must meet the Society's Interest Only Criteria)

Fees

No application or arrangement fees

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

Minimum Interest Rate

The interest rate on this product will not drop below 2.00% (following the fixed rate period).

Incentives

One Free Valuation.

Loan Size

Minimum Loan: £30,000

Maximum Loan: Up to £750,000 at 80% LTV, £1,000,000 at 70% LTV, £1,500,000 at 65% LTV and up to £2,000,000 at 50% LTV

Maximum Loan to Value

Purchase 80%.
Remortgage 80%.

Overpayments

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 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.

Property Location

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

Availability

New Business - All of our savings and mortgage products are only available to UK residents

Early Repayment Charges

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 £3,686.06 based on an initial mortgage balance of £184,303.00.

Representative Example

A mortgage of £184,303.00 payable over 31 years initially on a Fixed Rate of 5.35% for 2 Years and then on our Standard Variable Rate (SVR) of 7.74% (variable) for the remaining 29 years would require 24 monthly payments of £821.68 and 348 monthly payments of £1,188.75. The total amount payable would be £617,869.62 made up of the loan amount plus interest (£433,406.62), a CHAPS fee of £35.00, a mortgage exit fee of £125.00. The overall cost for comparison is 7.6% APRC representative^

Find out More or Apply

Call us on 01782 255000.

Lines are Open 9.00am to 5.00pm Monday to Friday.

Mortgage Enquiry

Call us on 01782 255000 or complete the form below and a member of our team will be in touch

5.35% Fixed Rate Mortgage for 2 Years- Interest Only

Mortgage Calculator

Property Value

Loan Amount

Term (1–40 years)