Hanley Economic broadens residential range to support foreign nationals

Hanley Economic Building Society has expanded its residential mortgage range to support foreign nationals living and working in the UK by introducing a two-year fixed rate and a two-year discount variable option, both available up to 80% LTV.

The two-year fixed rate is priced at 4.99%, includes a free valuation and carries an arrangement fee of £1,199. The two-year discount variable option has an initial pay rate of 5.19%, representing a 2.65% discount from the Society’s SVR, currently 7.84%. This product also includes a free valuation and has an arrangement fee of £799.

Both products are designed to support foreign nationals from day one in the UK, offering immediate access to homeownership opportunities for skilled workers, healthcare professionals, and returning expats. They are available to borrowers who hold a skilled worker or healthcare worker visa with at least six months remaining, are paid in sterling and have a UK bank account.

Each case will be assessed on an individual basis by the in-house underwriting team, meaning no credit scoring.

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.”