Hanley Economic Building Society has introduced a new pair of 5-year fixed rate products in its residential and buy-to-let (BTL) ranges.
The residential offering is a 5-year fee-free fixed rate mortgage available up to 95% loan-to-value (LTV) with a headline rate of 6.35%.
This product is available for purchase and remortgage purposes and includes a free valuation alongside no application or arrangement fees.
The new addition to Hanley’s BTL proposition is a 5-year fixed rate product available up to 80% LTV with a headline rate of 6.69%.
This comes with a £499 arrangement fee and is available for purchase or remortgage purposes on a capital and interest or interest only basis.
These products are applicable for properties throughout England, Wales and Scotland (Scottish Islands by referral) and also come with a minimum loan amount of £30,000 and a maximum loan amount of £500,000.
David Lownds, head of products and marketing at Hanley Economic Building Society, said: “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.”
He concluded: “With the ongoing support of our intermediary partners, we will endeavour to deliver responsible and competitive options where possible to meet a range of borrowing requirements in what remains a testing economic climate.”
