Hanley Economic Building Society has broadened its buy-to-let (BTL) proposition with an ex-pat variable deal and a remortgage-only fixed rate.
The two-year fixed rate, available at 5.35 per cent, comes with a free valuation and a £700 arrangement fee.
The variable discount ex-pat BTL mortgage is priced at 5.89 per cent, representing a 2.6 per cent discount from the society’s standard variable rate (SVR) of 8.49 per cent. The deal is available for purchases and remortgages.
Both deals are available up to 80 per cent loan to value (LTV), on an interest-only basis and with a minimum loan size of £30,000 and maximum loan size of £500,000.
Borrowers are assessed on a case-by-case basis.
David Lownds (pictured), head of products and marketing at Hanley Economic Building Society, said: “We fully appreciate that the BTL lending landscape remains challenging for sections of the landlord community, but it will also continue to provide a wealth of opportunities along the way, provided they have access to a range of options that can help meet their changing needs.
“Our ex-pat offering was first introduced back in 2020 following substantial due diligence and extensive intermediary feedback and, with UK investment opportunities proving to be increasingly attractive, we hope this new offering will prove to be a popular option in what is a somewhat underserved area of the BTL market.”
Earlier this year, the building society brought out a retirement interest-only (RIO) mortgage offering.
Samantha Partington is a freelance trade and consumer journalist writing about property and personal finance. Previously she worked worked for the Daily Mail and Property Week. She is the former deputy editor of Mortgage Solutions and editor of Specialist Lending Solutions.
Before becoming a journalist, Samantha worked as a mortgage broker and latterly for a mortgage, bridging and secured loan lender. Samantha is CeMAP qualified. Follow her on Twitter @SamJPartington1.
