Hanley Economic Building Society has launched a suite of fixed rate and variable discount mortgages.
This includes a fee-free and early repayment charge (ERC) free 5-year variable discount mortgage, available on an interest-only basis.
This has a headline rate of 5.79%, representing a 2.70% discount from the society’s standard variable rate (SVR) of 8.49%, and is available up to 60% loan-to-value (LTV).
In a bid to reduce upfront fees, the product also includes a free valuation alongside no application or arrangement fees.
Other new products added to Hanley’s residential lending proposition include: a 2-year fix with a headline rate of 4.75%, available up to 80% LTV; a purchase-only 2-year 95% LTV fixed rate with a headline rate of 5.32%; a 2-year remortgage-only variable discount mortgage at 5.00% up to 90% LTV; and a 2-year 6.00% variable discount mortgage up to 95% LTV.
All these products are applicable 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 size of £500,000.
David Lownds, head of products and marketing at Hanley Economic Building Society, said: “As we enter Q2 2024, 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.”
