5.49% Fixed Rate Mortgage for 2 Years - Consumer Buy to Let

Interest Only

£700 Arrangement fee (Deducted from loan amount on completion).

Valuation Fee - Please refer to the Valuation Fee Scale

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

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)

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.

The Society will pay a proc fee of 0.40% 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 £1890.60 based on £94,530.00

A mortgage of £94,530.00 payable over 25 years initially on a Fixed Rate of 5.49% for 2 years and then on our Standard Variable Rate (SVR) of 8.24% (variable) for the remaining 23 years would require 24 monthly payments of
£579.93 and 276 monthly payments of £734.60. The total amount payable would be £217,803.52 made up of the loan amount plus interest (£122,138.52), an arrangement fee of £700, a valuation fee* of £275, a funds transfer fee of £35.00 and a mortgage exit fee of £125.00. The overall cost for comparison is 7.9% 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).