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Hanley Economic BS adds 95 per cent LTV product; Furness brings out postcode-exclusive deals ‒ round-up

  • 10/05/2023
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Hanley Economic BS adds 95 per cent LTV product; Furness brings out postcode-exclusive deals ‒ round-up
Hanley Economic Building Society has released a fee-free 95 per cent loan to value (LTV) product targeted to help low deposit borrowers.

The deal is a five-year fixed rate offered at 4.89 per cent and can be accessed at up to 95 per cent LTV.

It can be used for purchase or remortgage on properties throughout England, Wales and Scotland.

The deals have a free valuation, no application and arrangements fees, minimum loan amount of £30,000 and a maximum loan amount of £500,000.

David Lownds, head of marketing and business development at Hanley Economic Building Society, said: “Positive strides are being made across the housing and mortgage markets in the wake of increased economic stability and we, as a lender, are experiencing a slight uplift in the number of first-time buyer enquiries from our intermediary partners which signifies an encouraging development.

“Adjustments are being made by an array of potential borrowers to a higher interest rate norm and we remain committed to servicing the needs of first-time buyers when and where we can. As such, we have extended our 95 per cent LTV range to include a competitive fee-free five-year fix which should help provide lower deposit borrowers with a little extra security and lessen upfront costs.”


Furness brings out two-year fixed rates and exclusive Heartland deals

Furness has launched two-year fixed rates available across England, Scotland and Wales and Heartland exclusive products.

The two-year fixed rate is available up to 80 per cent LTV and is priced at 4.44 per cent.

The Heartland exclusives cover the Lancaster, Carlisle, Preston and Blackpool postcode areas. Pricing starts at 4.27 per cent for cases up to 75 per cent LTV and options up to 95 per cent LTV are available.

Alasdair McDonald, head of intermediary mortgages Furness for Intermediaries, said: “As well as offering competitive products across the UK, we’re really committed to helping customers in our heartland area.

“Factoring in the low rates, our ability to look at each case individually and a £250 cashback, we believe we’re offering a solution that really works for our local communities, helping local people prosper by getting a great deal on their remortgage or buying their own home.”

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