This product is available for new mortgage customers only.
Interest Only for 2 years reverting to Capital and Interest.
Application Fee paid to The Hanley Economic Building Society on application and is non-refundable £299.00.
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 £1899.00.
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 £10,000 Maximum £1,000,000.
Please refer to the following page for more information which details limits by lending type and basishttps://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 £8,834.70 based on an initial mortgage balance of £441,735.00.
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 £441,735.00 payable over 28 years initially on an interest only discounted variable rate of 6.16% which represents a 1.58% discount off the Society's Standard Variable Rate (SVR), for 2 Years and then on our SVR of 7.74% (variable) on a capital and interest basis for the remaining 26 years would require 24 monthly payments of £2,267.57 and 312 monthly payments of £3,292.09. The total amount payable would be £1,084,446.50 made up of the loan amount plus interest (£639,818.50), an application fee of £299.00, an arrangement fee of £1,899.00, a valuation fee of £535.00, a CHAPS fee of £35.00, a mortgage exit fee of £125.00. The overall cost for comparison is 7.8% APRC representative^.
You must intend to build or renovate a property to an EPC rating of A or B and; Plan to include at least two of the following qualifying energy efficient features: photovoltaics, solar panels, air source heat pump, ground source heat pump, rainwater, harvesting, greywater collection, triple glazing, mechanical ventilation with heat recovery system, biomass pellet boiler, wind turbines, higher than usual levels of thermal insulation, geothermal heating, compostable toilet, electric car charging stations. These features will need to be evidenced in the plans/costings. An ERC only applies if you refinance with another lender during the incentive period; if you finish early, you can switch to our residential range ERC free for a residential mortgage product subject to receipt of the final completion certificate.
Call us on 01782 255000.
Lines are Open 9.00am to 5.00pm Monday to Friday.
Call us on 01782 255000 or complete the form below and a member of our team will be in touch
