Hanley Intermediaries has reduced rates across its residential, retirement interest-only (RIO) and self-build mortgage ranges by up to 0.65% as lenders continue to compete for borrowers across mainstream and specialist sectors.
The changes include reductions on a number of headline products aimed at first-time buyers, later life borrowers and self-build customers.
Within its residential range, Hanley has cut the rate on its 95% LTV two-year variable discount mortgage from 6.32% to 5.77%. The deal offers a 1.97% discount from the Society’s standard variable rate of 7.74%.
In the self-build sector, the lender has reduced its two-year BuildLoan Exclusive ECO variable discount mortgage from 6.21% to 5.56%. The product is available up to 80% LTV and represents a 2.18% discount from the Society’s standard variable rate.
Hanley has also lowered the headline rate on its two-year retirement interest-only variable discount mortgage from 5.93% to 5.29%. The product is available up to 70% LTV and offers a 2.45% discount from the Society’s standard variable rate.
The mutual said the reductions form part of its ongoing strategy to support borrowers and intermediary partners across both mainstream and specialist lending markets.
All applications will continue to be assessed on an individual basis by Hanley’s in-house underwriting team without the use of credit scoring. Products are available through the Society’s branch network and selected intermediary channels.
David Lownds, head of products and marketing at Hanley Economic Building Society, said: “Market conditions have continued to improve in recent months and we are seeing growing levels of engagement from a range of borrowers who are actively reviewing their options again, whether they are first-time buyers, self-build customers or those planning later life borrowing needs.
“These latest reductions are not simply about reacting to pricing movements elsewhere in the market. They reflect the importance of maintaining product choice across different borrower groups at a time when affordability remains a key consideration for many households.
“We continue to see strong value in specialist areas such as self-build and RIO, where advice plays a particularly important role.
“Borrowers in these sectors often require a more considered and flexible approach and it remains important that advisers have access to competitive solutions which can support a broad range of circumstances.”
