Hanley Economic Building Society has expanded its residential mortgage range with two new products designed for foreign nationals living and working in the UK.
The additions include a 2-year fixed rate and a 2-year discount variable option, both available up to 80% loan-to-value.
The 2-year fixed rate is priced at 4.99%, includes a free valuation and carries an arrangement fee of £1,199.
The 2-year discount variable product has an initial pay rate of 5.19%, reflecting a 2.65% discount from the Society’s standard variable rate of 7.84%, and includes a free valuation with an arrangement fee of £799.
Hanley Economic said the products are aimed at supporting skilled workers, healthcare professionals and returning expats from their first day in the UK.
Eligible applicants must hold a Skilled Worker or Healthcare Worker visa with at least six months remaining, be paid in sterling and have a UK bank account.
Cases will be individually assessed by the Society’s underwriting team without the use of credit scoring, and the products are available through its branch network and selected intermediary channels.
David Lownds, head of products and marketing at Hanley Economic Building Society, said: “Many foreign nationals build their lives and careers in the UK yet find it difficult to access a mortgage which meets their needs.
“By widening our residential range, we want to give these borrowers access to competitive options that reflect how they live and work.
“The new products also give our intermediary partners more choice when supporting clients who are settled in the UK and ready to take their next step towards owning a home or refinancing.”
