Hanley Economic Building Society Launches Fee-Free Two-Year 95% LTV Tracker Mortgage

At Hanley Economic Building Society, we are committed to providing innovative mortgage solutions that make homeownership more accessible. We are pleased to announce the launch of our new fee-free, two-year 95% loan-to-value (LTV) tracker mortgage, designed to offer both affordability and flexibility to homebuyers and those seeking to remortgage.

Key Features of the New Mortgage Product:

• Initial Pay Rate: 5.75%, calculated as the Bank of England Base Rate +1%.
• No Upfront Fees: No application or arrangement fees, plus a free valuation.
• Cashback Offer: £250 cashback upon mortgage completion.
• Eligibility: Available for properties across England, Wales, and Scotland (Scottish Islands by referral).
• Loan Amounts: Minimum loan of £30,000 and maximum loan of £500,000.

This new tracker mortgage is suitable for both property purchases and remortgaging. Each application will be individually assessed by our in-house underwriting team, ensuring a personalized approach without automated credit scoring. The product is available through our branch network and selected intermediary channels.

Why Choose a Tracker Mortgage?

Tracker mortgages are linked to the Bank of England Base Rate, providing greater transparency for borrowers. With potential base rate reductions on the horizon, our new tracker mortgage offers flexibility and could be a cost-effective choice for many borrowers.

David Lownds, Head of Products and Marketing at Hanley Economic Building Society, commented:

“Our review of the high LTV market highlighted a gap for products linked to the Bank of England Base Rate. With potential base rate reductions on the horizon and the added flexibility offered by tracker mortgages, we believe this product could prove highly appealing to borrowers and drive increased interest and engagement among our intermediary partners.”

“As a forward-thinking mutual, we have a responsibility to make homeownership more accessible and affordable, particularly for those borrowers seeking higher LTV options, and we will continue evaluating our residential proposition accordingly.”

At Hanley Economic Building Society, we remain committed to helping borrowers achieve their homeownership goals with flexible, transparent, and affordable mortgage products. For more information or to discuss your mortgage options, contact your local branch or speak with your mortgage adviser today.