Hanley Economic Building Society has added to its range of residential and buy-to-let loans by launching two five-year fixed-rate products.
David Lownds
The mutual introduces a residential five-year fee-free fixed-rate offer, available up to 95% loan to value, with a headline rate of 6.35%.
It adds that the product is available for purchases and remortgages — and includes a free valuation as well as no application or arrangement fees.
The lender’s BTL deal is a five-year fixed-rate loan, available up to 80% LTV, with a headline rate of 6.69%.
This comes with a £499 arrangement fee and is available for purchases or remortgages on a capital and interest, or interest-only basis.
Both products are available for properties throughout England, Wales and Scotland — Scottish Islands by referral — and come with a minimum loan size of £30,000 and a maximum loan amount of £500,000.
The firm says each case will be assessed on an individual basis by its in-house underwriting team, which means no credit scoring. The products are available through its branch network and selected intermediary channels.
Hanley Economic Building Society head of products and marketing David Lownds says: “The residential and BTL sectors continue to face their own unique challenges in the wake of ongoing interest rate and inflationary pressure.
“However, as a lender who remains committed to these markets, we realise the need to provide choice for those borrowers who may be looking to achieve longer-term security over their mortgage payments sooner rather than later.”
