Hanley Economic Building Society has launched a trio of 5-year fixed rate products up to 95% loan-to-value (LTV).
The first of these is a 5-year fixed rate product with a headline rate of 5.85%, up to 95% LTV.
It is available for purchase or remortgage purposes and comes with a valuation incentive.
David Lownds, head of marketing and business development at Hanley Economic Building Society, said: “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.”
The second of the new product offerings is a 5-year fixed rate product with a headline rate of 5.60%, up to 80% LTV.
It comes with a valuation/remortgage legals incentive, a £849 arrangement fee and is available for purchase or remortgage purposes.
Lastly, the final new product is a 5-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 new 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.
Lownds added: “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.”
