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Wednesday, September 18, 2019

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Hanley Economic BS launches two-year fix shared ownership deal

Martin Greenland | 13:15 Tuesday 26th February 2019

Hanley Economic Building Society has introduced a no-fee, two-year shared ownership fixed rate product at 95% LTV.

The product — which has a headline rate of 2.99% — will allow borrowers access to the shared ownership scheme for either house purchase or on a remortgage basis with only a 5% deposit.

It has no application or product fees, with the minimum loan amount standing at £30,000 and the maximum at £500,000.

An early repayment charge will apply if the mortgage is repaid in full before 31st March 2021.

Hanley has also introduced a 2.85% two-year fixed rate mortgage at 95% LTV, which is also available for house purchase and remortgage purposes.

This product also has a minimum loan size of £30,000 and a maximum of £500,000.

In addition, there is a £250 application fee and it comes with one free standard valuation and free legals for remortgage borrowers.

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