Hanley Economic Building Society has launched a suite of fixed-rate and variable discount residential mortgages, boosting its residential offering.
David Lownds
The mutual says a highlight of the range is a fee-free and early repayment charge-free five-year variable discount home loan, available on an interest-only basis.
Its headline rate is 5.79%, representing a 2.70% discount from the Society’s standard variable rate of 8.49%, and is available up to 60% loan to value.
The loan also comes with a free valuation and no application or arrangement fees.
Other products in the range include:
- two-year fixes with a headline rate of 4.75%, available up to 80% LTV,
- purchase-only two-year 95% LTV fixes, with a headline rate of 5.32%
- two-year remortgage-only variable discount mortgages at 5.00%, at up to 90% LTV
- two-year 6.00% variable discount mortgages, at up to 95% LTV
These products apply to properties throughout England, Wales and Scotland (Scottish Islands by referral), and come with a minimum loan size of £30,000 and a maximum loan size of £500,000.
The lender says cases will be assessed on an individual basis by the in-house underwriting team, which does not rely on credit scoring. Products are available through the firm’s branch network and selected intermediary channels.
Hanley Economic Building Society head of products and marketing David Lownds says: “As we enter the second quarter of this year, volumes and expectations are slowly rising across the housing and mortgage markets after what has proved to be an encouraging start to the year from both an industry and wider economic perspective.
“Consumer confidence is steadily growing and we are currently experiencing increased appetite from first-time buyers, second steppers and those looking to remortgage who have become more aware of the new interest rate norm. Meaning it’s vital that we, as a lending community, continue to offer an array of options to meet these varied demands.”
Hanley Economic Building Society’s broker partners include, Primis, TMA, Sesame, Legal & General Mortgage Club and Quilter.
