"The residential and BTL sectors continue to face their own unique challenges in the wake of ongoing interest rate and inflationary pressure"
For landlords, Hanley’s new buy-to-let product is a five-year fixed rate option available up to 80% LTV with a headline rate of 6.69%. This comes with a £499 arrangement fee and is available for purchase or remortgage purposes on a capital and interest or interest-only basis.
The residential offering is a five-year fee-free fixed rate mortgage available up to 95% LTV with a headline rate of 6.35%. This product is available for purchase and remortgage purposes and includes a free valuation alongside no application or arrangement fees.
The products are applicable for properties throughout England, Wales and Scotland (Scottish Islands by referral) and come with a minimum loan amount of £30,000 and a maximum loan amount of £500,000.
David Lownds, Head of Products and Marketing at Hanley Economic Building Society, commented: “The residential and BTL sectors continue to face their own unique challenges in the wake of ongoing interest rate and inflationary pressure. 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.”
