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Hanley Economic adds discount and fixed mortgage rates up to 95% to range

  • 09/04/2024
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Hanley Economic adds discount and fixed mortgage rates up to 95% to range
Hanley Economic Building Society has added a host of discount and fixed mortgage rates to its range up to 95% loan to value (LTV).

At the lower end of the LTV scale, the society has added a discount mortgage rate, available on an interest-only basis, at 5.79%. This represents a 2.7% discount from the Hanley’s standard variable rate (SVR).

The deal is available to borrowers with a 40% deposit and has no arrangement fee, valuation or early repayment charges (ERCs) and can be taken on an interest-only basis.

The society has added a two-year fixed rate to its 80% LTV range, priced at 4.75%.

Climbing the LTV scale, three deals have been added to the 90%-plus tiers.

A two-year remortgage-only variable discount mortgage at 5% is now available up to 90% LTV. A purchase-only two-year 95% LTV fixed rate with a rate of 5.32% and a two-year 6% variable discount mortgage up to 95% LTV have also been added.

All deals are available on properties throughout England, Wales and Scotland. The Scottish Islands are by referral. They have a minimum loan size of £30,000 and a maximum loan size of £500,000.

David Lownds (pictured), head of products and marketing at Hanley Economic Building Society, said: “As we enter Q2, volumes and expectations are slowly rising across the housing and mortgage markets after what has proved to be an encouraging start to the year, from both an industry and wider economic perspective.

“Consumer confidence is steadily growing and we are currently experiencing increased appetite from first-time buyers, second steppers and those looking to remortgage who have become more aware of the new interest rate norm. Meaning it’s vital that we, as a lending community, continue to offer an array of options to meet these varied demands.”

Last month, the company added a buy-to-let (BTL) range.

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