The firm has added a two-year fixed rate and a two-year discount variable option, which are available up to 80% loan to value (LTV).
The fixed rate stands at 4.99% and has an arrangement fee of £1,199 and a free valuation, while the discount variable option has an initial pay rate of 5.19%. This is a 2.65% discount from the firm’s standard variable rate (SVR), which is currently 7.84%. The offering comes with a £799 arrangement fee and a free valuation.
Both of Hanley Economic Building Society’s products offer immediate access to homeownership opportunities for returning expats, healthcare workers and skilled workers. Borrowers eligible for the deals include those with a Skilled Worker or Healthcare Worker visa with at least six months remaining, and they must be paid in sterling and have a UK bank account.
The firm’s in-house underwriting team will assess each case individually, so there will be no credit scoring.
David Lownds (pictured), head of products and marketing at Hanley Economic Building Society, said: “Many foreign nationals build their lives and careers in the UK yet find it difficult to access a mortgage [that] meets their needs. By widening our residential range, we want to give these borrowers access to competitive options that reflect how they live and work.
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“The new products also give our intermediary partners more choice when supporting clients who are settled in the UK and ready to take their next step towards owning a home or refinancing.”
At the end of last month, the firm launched a two-year interest-only self-build variable discount mortgage.
