"We have extended our 95% LTV range to include a competitive fee-free five-year fix which should help provide lower deposit borrowers with a little extra security and lessen upfront costs"
According to the lender, this can be used for purchase and remortgage purposes on properties throughout England, Wales and Scotland (Scottish Islands by referral). The product includes a free valuation and has no application or arrangement fees. It also comes with a minimum loan amount of £30,000 and a maximum loan amount of £500,000.
Each case will be assessed on an individual basis by the in-house underwriting team, meaning no credit scoring, and these products are available through the Hanley Economic Building Society branch network and selected intermediary channels.
David Lownds, Head of Marketing & Business Development at Hanley Economic Building Society, commented:
“Positive strides are being made across the housing and mortgage markets in the wake of increased economic stability and we, as a lender, are experiencing a slight uplift in the number of first-time buyer enquiries from our intermediary partners which signifies an encouraging development.
“Adjustments are being made by an array of potential borrowers to a higher interest rate norm and we remain committed to servicing the needs of FTBs when and where we can. As such, we have extended our 95% LTV range to include a competitive fee-free five-year fix which should help provide lower deposit borrowers with a little extra security and lessen upfront costs.”
