2.90% Variable Discount Mortgage for 2 Years
2.90% Variable Discount Mortgage for 2 Years
Initial Pay Rate
5.59%
Loan to Value
95%
APRC
8.1%
Fees
None
Information
Early Repayment Charge:
Incentives:
Things you need to know
Capital & Interest.
No application or arrangement fees
The interest rate on this product will not drop below 2.00%.
Free Valuation
£250 cashback will be paid to your solicitors on completion of the mortgage.
Minimum Loan: £30,000
Maximum Loan: £500,000 at 95% LTV, £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 95%.
Remortgage 95%.
Available for properties located in England, Wales and Scotland (Selected Scottish Islands accepted, please refer to criteria).
The Society will pay a procuration 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 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 £4,554.18 based on £227,709.00.
Overpayments of up to 10% of the mortgage balance are permitted each anniversary year during 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.
A Higher Lending Charge is applicable and is paid by the Society
A mortgage of £227,709.00 payable over 25 years initially on a discounted variable rate of 5.59% for 2 years and then on our Standard Variable Rate (SVR) of 8.49% (variable) for the remaining 23 years would require 24 monthly payments of £1,410.60 and 276 monthly payments of £1,806.43. The total amount payable would be £532,587.66 made up of the loan amount plus interest (£304,718.66), a Funds transfer fee of £35.00 and a Mortgage Exit Fee of £125.
The overall cost for comparison is 8.1% 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).
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