Variable Discount for 2 Years (Arrears)

5.99% Initial Pay Rate for 2 years which represents a 2.50% discount off our Standard Variable Rate (SVR) currently (8.49%).

Low Start – Interest Only for the first two years reverting to Capital & Interest for the remaining term.

Non-refundable Application Fee: £299.
Arrangement Fee: £700 (Deducted from the loan on completion).

A valuation fee is payable. See fee scale for cost

The interest rate on this product will not drop below 2.00%.

None.

Minimum Loan £30,000.
Maximum Loan £1,250,000 up to 50% LTV £1,000,000 up to 60% LTV, (Loans above £500,000 will be considered on an individual basis).

Purchase 60% (Land / Construction or Renovation End Valuation).
Remortgage 60% (Land / Construction or Renovation End Valuation).

Overpayments may be made by standing order.

Available for loans on properties in England, Wales and Scotland (Selected Scottish Islands accepted, please refer to criteria).

The Society will pay a procuration fee of 0.50% on completion to the intermediary.

This product is available for new mortgage customers only.

There is no early repayment charge.

A mortgage of £232,000.00 payable over 25 years initially on a discounted variable rate of 5.74% which represents a discount of 2.5% off the Society’s Standard Variable Rate (SVR) of 8.24%, for 2 years and then on our SVR of 8.24% (variable) for the remaining 23 years would require 24 monthly payments of £1109.73 and 276 monthly payments of £1593.07. The total amount payable would be £546,316.63 made up of the loan amount plus interest (£312,682.63), a funds transfer fee of £35.00, an application fee of £299.00, an arrangement fee of £700.00 an exit fee of 125.00 and a valuation fee of £475.00. The overall cost for comparison is 8.2% 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).