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.
This product is available for new mortgage customers only.
Capital and Interest or 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 £1499.00.
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%
None
Minimum Loan £30,000
Loan to Value Maximum Loan
Up to 95% £600,000
Up to 90% Over £600k up to £750k
Up to 85% Over £750k up to £1m
Up to 80% Over £1m
Loans over £1m are subject to Credit Committee approval 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%
Remortgage 80%
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 £4,616.45 based on an initial mortgage balance of £230,822.43.
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.
A mortgage of £230,822.43 payable over 31 years initially on a discounted variable rate of 5.71% which represents a 2.03% discount off the Society's Standard Variable Rate (SVR), for 2 Years and then on our SVR of 7.74% (variable) for the remaining 29 years would require 24 monthly payments of £1,324.94 and 348 monthly payments of £1,629.23. The total amount payable would be £602,915.83 made up of the loan amount plus interest (£370,079.80), an arrangement fee of £1,499.00, a valuation fee of £355.00, 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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