2.30% Variable Discount for 2 Years (Arrears)

This product is available for new mortgage customers only.

This product is available for custom-build.

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 £649

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: £750,000 at 80% LTV, £1,000,000 at 70% LTV, £1,500,000 at 65% LTV, £2,000,000 at 50% LTV (Loans over £500,000 will be considered on an individual basis)

Purchase 80% (Land / Construction or Renovation End Valuation).
Remortgage 80% (Land / Construction or Renovation End Valuation).

There is no early repayment charge.

There are no restrictions for overpayments. Overpayments may be made by monthly standing order, or in a lump sum.

A mortgage of £258,000.00 payable over 28 years initially on an interest only discounted variable rate of 5.54% which represents a 2.30% discount off the Society's Standard Variable Rate (SVR), for 2 Years and then on our SVR of 7.84% (variable) on a capital and interest basis for the remaining 26 years would require 24 monthly payments of £1,191.10 and 312 monthly payments of £1,939.93. The total amount payable would be £635,367.92 made up of the loan amount plus interest (£375,844.97), an application fee of £299.00, an arrangement fee of £649.00, 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 7.8% APRC representative^.

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

Call us on 01782 255000.

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