The Hanley Economic Building Society is a UK building society, which has its head office in Hanley, Stoke on Trent, Staffordshire. It is the 28th largest in the United Kingdom based on total assets of £378 million as at 31 August 2016. Founded in 1854, The Staffordshire Potteries Economic Permanent Benefit Building Society, was the Society’s original title. It was in 1930 when the name was shortened to Hanley Economic Building Society.
The company has a goal to provide new and existing customers with competitive mortgage products and quality mortgage advice. It provides multiple options in choosing a best suitable mortgage plan to it’s customers. There are fixed and variable rates mortgages available as well as buy to let, residential Interest only, credit repair, self build mortgages available for your convenience.
Compare Hanley Economic Building Society’s mortgage rates
Overall representative example If you borrow £178,000 mortgage over 25 years initially at 4.49% fixed for 60 months reverting to 7.99% variable for term. 60 monthly payments of £988.37 and 240 monthly payments of £1306.89. Total amount payable £373,335.80 includes loan amount, interest of £194,956, valuation fees of £0 and product fees of £0. The overall cost for comparison is 6.7% APRC representative.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.
What types of mortgages can I get with Hanley Economic Building Society ?
Fixed rate With this mortgage type, your interest remain locked for a set amount of time, providing certainty about the size of your mortgage repayments.
Remortgages You can switch your existing mortgage to Hanley Economic Building Society via one of its remortgage products.
Offset This mortgage type allows you use a Hanley Economic Building Society savings account to offset the amount of your mortgage balance you pay interest on.
Tracker With this type of mortgage, your interest rate will shift up and down in line with the Bank of England base rate.
Buy to let This type of mortgage is needed if you want to borrow money to purchase an additional property and let it out.
Shared ownership This mortgage type allows you to percentage of a property and pay rent on the remainder. When you can afford it, you can then apply to buy additional percentages of the property.
How to apply
To apply for a mortgage in 01782 255000 or visit a local branch.
What information is needed to apply?
You will need to provide personal details, address history, employment history and financial information. This will need to be backed up recent payslips and bank statements.
Eligibility criteria
You must be between 18 and 80 years old. The lender allows you to buy properties in England, Wales and mainland Scotland.
You’ll need to have been continually employed for the last 12 months. In most cases, self-employed applicants will have to show two years worth of accounts.
Applicants must have no more than one CCJ and default for no more than £500 on their credit report (none in the last 12 months).
Contact information
For general queries call 01782 255 000 or customerservices@thehanley.co.uk.
Frequently asked questions
Yes, although you’ll have to pay early repayment charges if you overpay by too much. The amount you can overpay by without paying a fee is product-specific.
With some mortgages, you’ll receive up to £250 cashback after your mortgage is confirmed.
The minimum loan for residential mortgages is £30,000. You’ll only be offered a mortgage on properties worth £50,000 or more (£125,000 if within the boundaries of the M25).
These are not permitted.
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Matthew Boyle is a banking and mortgages publisher at Finder. He has a 7-year history of publishing helpful guides to assist consumers in making better decisions. In his spare time, you will find him walking in the Norfolk countryside admiring the local wildlife.
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