Hanley Economic BS launches fixed rate trio
09 March 2023
Hanley Economic Building Society has launched a trio of fixed rate products up to 95% LTV.
The first product is a two-year fee-free fixed rate mortgage available up to 95% LTV with a headline rate of 5.60%. This product is available for purchase and remortgage purposes and includes a free valuation alongside no application or arrangement fees.
The second is a two-year fixed rate product with a headline rate of 4.85%, up to 75% LTV. This comes with a free valuation, a £250 contribution to remortgage legals, a £1,000 arrangement fee and is available for purchase or remortgage purposes.
The final product is a four-year fixed rate mortgage with a headline rate of 4.59%, up to 60% LTV. This also comes with a free valuation, a £250 contribution to remortgage legals, a £1,000 arrangement fee and is available for purchase or remortgage purposes.
These products are applicable for properties throughout England, Wales and Scotland (Scottish Islands by referral) and come with a minimum loan amount of £30,000 and a maximum loan amount of £500,000.
Each case will be assessed on an individual basis by the in-house underwriting team, meaning no credit scoring, and these products are available through the Hanley Economic Building Society branch network and selected intermediary channels.
David Lownds, Head of Marketing & Business Development at Hanley Economic Building Society, commented: “There has been a keen sense of anticipation amongst borrowers and the intermediary community around how lenders will approach the early part of 2023 due to many potential buyers and homeowners adopting a wait and see attitude over the later part of 2022. This was inevitable during some uncertain economic times but, it’s fair to say, that we are now operating on some firmer footings from an economic perspective and competition in the lending arena is really starting to heat up.”
“The first two months of the new year have seen us demonstrate our lending appetite and intentions through a host of product launches and there is more to come as we aim to provide our intermediary partners with viable and attractive options to service a variety of client requirements moving forward.”
