One five-year fixed rate is priced at 5.85 per cent and is available up to 95 per cent LTV. It is available for purchase or remortgage and comes with a “valuation incentive”.
The second five-year fixed rate is 5.6 per cent up to 80 per cent LTV. It is subject to a valuation and remortgage legals incentive, £849 arrangement fee and is eligible for purchase or remortgage.
The final product has a headline rate of 5.5 per cent up to 75 per cent LTV. It comes with a valuation and remortgage legals incentive, £849 arrangement free and is available for purchase or remortgage.
The above products can be used on properties in England, Wales and Scotland and have a minimum loan of £30,000 and maximum loan of £500,000.
Each case is examined on an individual basis by an in-house underwriting team which means no credit scoring.
Products are available through the mutual’s branch network and selected intermediary channels.
David Lownds (pictured), 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.”
“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.”
