Hanley Economic Building Society (Hanley Economic BS) has introduced a new five-year fixed-rate product, available up to 80% LTV with a headline rate of 6.69%.
The product is applicable for properties throughout England, Wales, and Scotland (Scottish Islands by referral) and has a minimum loan amount of £30,000 and a maximum of £500,000.
It also includes a £499 arrangement fee and is offered for purchase or remortgage purposes on a capital and interest, or interest only basis.
The product is available through the Hanley Economic BS branch network and selected intermediary channels, with each case assessed individually by the in-house underwriting team, resulting in no credit scoring.
David Lownds, head of products and marketing at Hanley Economic BS, commented: “The BTL sector continues to face its own unique challenges in the wake of ongoing interest rate and inflationary pressure.
“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.”
