The five-year fixes have a maximum loan amount of £500,000
Hanley Economic Building Society has expanded its residential and buy-to-let ranges, introducing a couple of new five-year fixed rates.
The lender’s new residential product is a five-year fee-free fixed rate mortgage available up to 95% loan-to-value (LTV) with a headline rate of 6.35%. Available for purchase and remortgage purposes, the product includes a free valuation, alongside no application or arrangement fees.
Meanwhile, the new buy-to-let proposition is a five-year fixed rate product, available up to 80% LTV with a headline rate of 6.69%. It comes with a £499 arrangement fee and is available for purchase or remortgage purposes on a capital and interest or interest-only basis.
The new products are applicable for properties throughout England, Wales, and Scotland, with a minimum loan amount of £30,000 and a maximum loan amount of £500,000.
“The residential and BTL sectors continue to face their own unique challenges in the wake of ongoing interest rate and inflationary pressure,” commented David Lownds (pictured), head of products and marketing at Hanley Economic Building Society. “However, as a lender who remains committed to these markets, we realise the need to provide choice for those borrowers who may be looking to achieve longer-term security over their mortgage payments sooner rather than later.
“With the ongoing support of our intermediary partners, we will endeavour to deliver responsible and competitive options where possible to meet a range of borrowing requirements in what remains a testing economic climate.”
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