Hanley Economic BS launches trio of five-year fixes
Hanley Economic Building Society has launched a trio of five-year fixed rate products up to 95% LTV.
The first of these is a five-year fixed rate product with a headline rate of 5.85%, up to 95% LTV. This is available for purchase or remortgage purposes and comes with a valuation incentive.
The second is a five-year fixed rate product with a headline rate of 5.60%, up to 80% LTV. This comes with a valuation/remortgage legals incentive, a £849 arrangement fee and is available for purchase or remortgage purposes.
The final product is a five-year fix with a headline rate of 5.50%, up to 75% LTV. This also comes with a valuation/remortgage legals incentive, a £849 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 looked at 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: “As a mutual, it’s important to support a range of borrowing needs when and where we can, especially through the more turbulent times. This is particularly apparent at the higher LTV bands where an increased number of options are needed after a sharp, but entirely understandable, contraction of the mortgage market.
“On a more positive note, homeownership aspirations remain strong and these represent a trio of competitively priced products which will help provide certainty of payment over the longer-term for those borrowers looking to purchase, or remortgage, amidst some ongoing economic uncertainty.”