Hanley Economic Building Society has launched a fee-free two-year fixed rate product with a headline rate of 5.55%.
This product is available up to 75% loan-to-value for purchase and remortgage purposes.
It includes a free valuation alongside 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 (Scottish Islands by referral).
It comes with a minimum loan amount of £30,000 and a maximum loan amount of £500,000.
The Staffordshire-based building society said each case will be assessed on an individual basis by the in-house underwriting team. And these products are available through its branch network and selected intermediary channels.
The society has a selected number of intermediary partners including Quilter Mortgage Planning Limited, Legal & General Mortgage Club, Paradigm Mortgage Services among others.
Hanley Economic Building Society head of products and marketing David Lownds said: “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.
“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.”
