Hanley Economic Building Society has lowered select first-time buyer rates by up to 0.7 per cent and removed upfront fees from the products.
The lender said that the rate for the two-year fixed rate at 95 per cent LTV has fallen from 6.39 per cent to 5.69 per cent.
The product comes with free valuation alongside no application or arrangement fees.
The deal is available for properties throughout England, Wales, and Scotland with a minimum loan of £30,000 and maximum loan of £500,000.
Each case is assessed on an individual basis by the in-house underwriting team so there is no credit scoring.
Hanley Economic: Q1 to deliver pent-up first-time buyer demand’
David Lownds, head of products and marketing at Hanley Economic Building Society, said: “First-time buyers have certainly not had it easy over the past 12 to 18 months and, as a lending community, we need to do all we can to ensure they have access to a range of innovative, competitive options which can help them onto the property ladder in a responsible manner.”
“By removing any upfront fees at the 95 per cent LTV lending band, we can help reduce some financial burdens which potential buyers can put towards a deposit and not have to add onto their mortgage. We expect Q1 to deliver some pent-up first-time buyer demand and we are committed to servicing these needs where possible.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
