5.35% Fixed Rate Mortgage for 2 Years- Interest Only
5.35% Fixed Rate Mortgage for 2 Years- Interest Only
Initial Pay Rate
5.35%
Loan to Value
80%
APRC
8.4%
Fees
None
Information
Early Repayment Charge:
Incentives:
Things you need to know
Interest Only (Applicants must meet the Society's Interest Only Criteria)
None
The interest rate on this product will not drop below 2.00% (following the fixed rate period)
One Free Valuation.
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
Purchase 80%
Remortgage 80%
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. Any additional overpayments above 10% during this period will attract a penalty calculated on the amount of the additional payments.
Available for properties located in England, Wales & mainland Scotland (Islands by referral).
The Society will pay a proc fee of 0.35% on completion to the intermediary.
This product is available for new mortgage customers only.
If this mortgage is repaid in full or in part 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 £3,958.94 based on £197,947.00.
A mortgage of £197,947.00 payable over 35 years initially on a Fixed Rate of 5.35% for 2 Years and then on our Standard Variable Rate (SVR) of 8.49% (variable) for the remaining 33 years would require 24 monthly payments of £882.51 and 396 monthly payments of £1,400.48. The total amount payable would be £575,929.04 made up of the loan amount plus interest (£575,769.04), a funds transfer fee of £35.00 and a mortgage exit fee of £125.00. The overall cost for comparison is 8.4% APRC representative^
Call us on 01782 255000 (selecting option 1 – Hanley Intermediaries then option 1 – New business enquiries).
Lines are Open 9.00am to 5.00pm Monday to Friday (Wednesday 9.30am to 5.00pm).

Login/Register for our Intermediaries Portal
Register below to access our Intermediaries portal. Already a member? Log in to our portal to access your account.