Buy-to-let products from the mutual including a 3.99% variable discount product up to 75% LTV and a 4.95% two-year variable discount up to 80% LTV will be distributed by TBMC for the first time.

Hanley will offer free valuations on all properties up to £250,000 or a contribution to houses valued above that figure.

Rob Hassall, business development manager at Hanley Economic Building Society, said the lender was expanding its scope in the buy-to-let sector to target extra demand.

“We are thrilled to be working with TBMC to launch our new buy-to-let mortgage rates. At Hanley, we have been looking at ways to extend our product portfolio to meet the needs of customers and identified the opportunity that the buy-to-let sector offers.

“The buy-to-let mortgage market has developed considerably over the last couple of years and these new products have been designed specifically to stand out from the crowd.

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“We have chosen to team up with TBMC, whose expertise in the buy-to-let mortgage market and extensive distribution network will undoubtedly help us to reach our lending targets in this sector.”

Andy Young (pictured), chief executive at TBMC, said: “The 80% LTV product with a free valuation and no arrangement fee is particularly attractive, and should be popular with landlord clients looking to employ higher gearing in their property investments.

“The 75% LTV product with a discount for the full term of the loan will have high appeal with landlords, removing the need to seek to remortgage every two to three years.”