5.25% Self-Build/Renovation Part Built Variable Discount Mortgage for 2 years (Arrears)

This product is available for new mortgage customers only.

This product is not available for custom-build.

5.75% Initial Pay Rate for 2 years which represents a 2.74% discount off our Standard Variable Rate (SVR) currently (8.49%).

Low Start – Interest Only for the first two years reverting to Capital & Interest for the remaining term.

Application Fee paid to The Hanley Economic Building Society on application and is non-refundable £299

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 £1,199

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 (Mortgage & Valuation Charges | The Hanley)

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

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

None.

Minimum Loan £30,000.
Maximum Loan £2,000,000 up to 50% LTV £1,500,000 up to 60% LTV, (Loans above £500,000 will be considered on an individual basis).

Purchase 60% (Land / Construction or Renovation End Valuation).
Remortgage 60% (Land / Construction or Renovation End Valuation).

There are no restrictions on overpayments.

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

There are no early repayment charges.

Property should be at a minimum of wall plate level for Self-build or Full structural overhaul including roofing and damp proof course in respect of a renovation Covered by an acceptable warranty provider (A retrospective warranty is not acceptable)

– see the Self Build lending guide for details Certified by the warranty provider and sign off certificates for each stage should be submitted with the application

Funds will be released in stages.

A mortgage of £289,180 payable over 25 years initially on a discounted variable rate of 5.25% for 2 years and then on our Standard Variable Rate (SVR) of 7.99% (variable) for the remaining 23 years would require 24 monthly payments of £1,265.16 and 276 monthly payments of £2,292.64. The total amount payable would be £665,264.27 made up of the loan amount plus interest (£373,951.27), an Application fee of £299.00, an Arrangement fee of £1,199.00, a Funds transfer fee of £35 a Valuation Fee of £475 and a Mortgage Exit Fee of £125. The overall cost for comparison is 7.9% APRC representative^

To found out more about Self-build mortgages, read our guide HERE.

Call us on 01782 255000.

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