Hanley Economic Building Society launches two resi loans

Hanley Economic Building Society launched two residential fixed rate mortgages.

The first is a fixed rate mortgage of just 1.75% over two years and 80% LTV, which comes with a free standard appraisal and free legal fees.

The second is a five-year 95% LTV fixed rate offer with an aggregate rate of 3.45%, which is available for home purchase or remortgages.

Both of these products are intended for properties in England, Wales and Scotland. They have a minimum loan amount of £ 30,000, a maximum loan amount of £ 500,000 and each carries an application fee of £ 299.

David Lownds, Marketing and Business Development Manager for the Hanley Economic Building Society, said: “First-time buyers, including those who took out a condominium option, accounted for 40% of all our new business loans from 2020 to 2021. .

“Going forward, we’re looking to support even more people on the property ladder, especially those who may have smaller deposits but who fit our affordability profile.

“The mortgage market will also prove to be a key area for the intermediary market in the first quarter of 2022 as a large number of mortgage terms are about to expire and this pair of products will help provide valuable options for those looking to commit to a more or less long term contract.

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