Hanley Economic Building Society bolsters residential mortgage range

21 August 2024

Hanley Economic Building Society has bolstered its residential mortgage range with the launch of a fee-free two-year 95% LTV fixed rate and a fee-free two-year 90% LTV variable discount mortgage.

The fee-free two-year fixed rate mortgage is available up to 95% LTV and comes with a headline rate of 5.75%.

The fee-free two-year variable discount mortgage is available at a headline rate of 5.30%, representing a 3.19% discount from the Society’s standard variable rate of 8.49%, and is available up to 90% LTV.

In a bid to reduce upfront fees, both these products come with a free valuation alongside no application or arrangement fees and £250 cashback will be paid on completion of the mortgage. They are applicable for properties throughout England, Wales and Scotland (Scottish Islands by referral) for purchase or remortgage purposes.

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 Products and Marketing at Hanley Economic Building Society, commented:

“As a lending community, it's essential to support a diverse range of borrowing needs. By eliminating upfront fees, we strive to make homeownership more attainable and affordable, particularly at the higher LTV bands.”

“On the back of increasingly attractive mortgage rates, growing consumer confidence, and more favourable economic conditions, activity levels are expected to rise in the coming months. And the intermediary market remains best positioned to ensure that the needs of both first-time buyers and those seeking to remortgage are met through a variety of innovative and competitive solutions.”