The new product is available for both purchase and remortgage
Hanley Economic Building Society has announced a new fee-free two-year fixed rate product available up to 75% loan-to-value with a rate of 5.55%.
The new product can be availed for both purchase and remortgage purposes and includes a free valuation with no application or arrangement fees. It also features a £250 contribution to remortgage legals.
The two-year fix is applicable for properties throughout England, Wales, and Scotland and comes with a minimum loan amount of £30,000 and a maximum loan amount of £500,000.
“As we move towards the end of what can easily be described as a somewhat challenging year for lenders, intermediaries and many borrowers, it’s good to see increased competition emerging across the product arena and rates slowly but steadily decreasing,” commented David Lownds (pictured), head of products and marketing at Hanley Economic Building Society.
“Despite a largely expected transactional lull, it’s important to point out that mortgage business is still being written and it’s vital that we, as a lending community, continue to find ways to provide responsible and well-priced solutions which can meet a range of borrowing demands moving forward.”
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