ST Rent to Own Mortgage - No Deposit Required

Mortgage Calculator

This shows what you'll pay each month during your initial deal period. It doesn't consider any charges or fees if you decide to make any changes to your mortgage. Please note this is only an estimate.

ST Rent to Own Mortgage - No Deposit Required

Initial Pay Rate

5.79%

Loan to Value

100%

APRC

7.8%

Fees

Yes

Product Code

MFD635

Information

Early Repayment Charge: Yes

Incentives: No

Things you need to know

Repayment Basis

Capital & Interest

Fees

Valuation fee- subject to value of property value

Minimum Interest Rate

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

Incentives

None

Loan Size

Minimum Loan: £30,000

Maximum Loan: £250,000

Maximum Loan to Value

Purchase 100%

Property Location

Available for properties with an ST Postcode only.

Availability

This product is available for new mortgage customers only

Early Repayment Charges

There is an early repayment charge of 3% (on a balance of £153,000 this would cost £4590.00)

Overpayments

Overpayments of up to 10% of the mortgage balance are permitted each anniversary year during the first 5 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

Higher Lending Charge

Higher Lending Charge is applicable and paid for by the Society.

Representative Example

A mortgage of £153,000.00 payable over 29 years initially at a fixed rate of 5.79% for 5 years and then on our SVR of 8.49% (variable) for the remaining 24 years would require 60 monthly payments of £908.36 and 288 monthly payments of £1149.90. The total amount payable would be £386,133.72 made up of the loan amount plus interest (£232,673.72), a funds transfer fee of £35.00, an exit fee of 125.00 and a valuation fee of £300.00. The overall cost for comparison is 7.8% APRC representative^.

Find out More or Apply

Call us on 01782 255000.

Lines are Open 9.00am to 5.00pm Monday to Friday, Saturdays 9am to 12.00pm.

Distribution

Available for properties with an ST postcode only. This product is only available through the Society's mortgage advisers. The Society reserves the right to withdraw this product at any time.

Mortgage Enquiry

Stop renting, start owning. Call 01782 255000 or fill in the form, and a member of our team will contact you to discuss your eligibility.

Hanley Economic Building Society Rent to Own mortgage product badge "start owning"