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Hanley Economic BS adds fee-free resi and RIO deals

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  • 25/04/2024
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Hanley Economic BS adds fee-free resi and RIO deals
Hanley Economic Building Society has added a fee-free two-year tracker and two-year fixed rate to its residential range and brought out retirement interest-only (RIO) deals.

The mutual’s residential two-year fixed rate is available up to 95% loan to value (LTV) and is priced from 5.49%.

The two-year tracker has a rate starting from 5.7% up to 90% LTV.

In its RIO range, the two-year variable discount rate has an initial pay rate of 5.76% and is available up to 65% LTV.

The deals come with a free valuation and no application or arrangement fees.

The residential products also have a £250 contribution to remortgage deals, and the RIO variable discount mortgage comes with £250 cashback on completion of a mortgage.

Deals are applicable to properties throughout England, Wales and Scotland and have a minimum loan size of £30,000 and maximum loan size of £500,000 for purchase or remortgage.

David Lownds (pictured), head of products and marketing at Hanley Economic Building Society, said: “As a lender, we have been extremely active over the early part of the year from a product perspective, as we look to help borrowers and our intermediary partners to successfully navigate ever-shifting market demands and dynamics.

“Lending circumstances dictate that we need to be innovative and fleet of foot when delivering a range of competitive and responsible solutions, and we hope these product additions tick many boxes and drive more business through our doors.”

Hanley has recently added discount and fixed rate mortgage rates up to 95% LTV and broadened its buy-to-let (BTL) proposition.

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