"By widening our residential range, we want to give these borrowers access to competitive options that reflect how they live and work"
- David Lownds - Hanley Economic Building Society
Hanley Economic Building Society has expanded its residential mortgage range to support foreign nationals living and working in the UK, offering a two-year fixed rate and a two-year discount variable option, both available up to 80% loan-to-value (LTV).
The two-year fixed rate is priced at 4.99%, includes a free valuation, and carries an arrangement fee of £1,199. Meanwhile, the two-year discount variable option has an initial pay rate of 5.19%, representing a 2.65% discount from the Society’s standard variable rate, currently 7.84%. This option also includes a free valuation and has an arrangement fee of £799.
Both products are aimed at providing foreign nationals with immediate access to homeownership opportunities. They are designed for skilled workers, healthcare professionals, and returning expats who hold a Skilled Worker or Healthcare Worker visa with at least six months remaining, receive their salary in sterling, and maintain a UK bank account.
Applications are assessed individually by the in-house underwriting team, meaning no credit scoring is applied. These products are available through the Hanley Economic branch network as well as selected intermediary channels.
David Lownds, head of products and marketing at Hanley Economic Building Society, commented, “Many foreign nationals build their lives and careers in the UK yet find it difficult to access a mortgage which meets their needs."
"By widening our residential range, we want to give these borrowers access to competitive options that reflect how they live and work. The new products also give our intermediary partners more choice when supporting clients who are settled in the UK and ready to take their next step towards owning a home or refinancing.”
