The first deal is a fee-free two-year fixed rate up to 95 per cent LTV at 6.39 per cent. It is available for purchase and remortgage and comes with a free valuation.
The second product, also available in purchase and remortgage, is a two-year fixed rate up to 80 per cent LTV with a rate of 5.79 per cent. It comes with free valuation, £250 contribution to remortgage legals and £649 arrangement fee.
The third product is an interest-only variable discount mortgage up to 60 per cent LTV with a rate of 5.39 per cent.
This represents a 2.6 per cent discount on the mutual’s standard variable rate and comes with an £1,000 arrangement fee, along with free valuation and remortgage legals contribution.
The products are available for properties in England, Wales and Scotland with the minimum loan amount coming to £30,000 and maximum loan pegged at £500,000.
Hanley: ‘Cautious optimism’
David Lownds (pictured), head of products and marketing at Hanley Economic Building Society, said: “It’s evident that challenges remain for an array of borrowers but falling inflation and the recent pause in the relentless interest rate rise indicates a greater level of conviction around the future of the UK economy, with some cautious optimism also emerging across the housing and mortgage markets.
“How this relates to ongoing activity levels across the purchase and remortgage arena remains to be seen. However, as a lender, it’s important to provide options which can help support any pent-up demand and we hope that the release of this product set will help stimulate further interest amongst our intermediary partners.”
