Hanley Economic launches Help to Buy remortgage



Hanley Economic Building Society has launched a two-year discounted remortgage product for Help to Buy borrowers.

The product has an initial two-year discounted pay rate of 1.94 per cent.

It offers Help to Buy borrowers a remortgage option to remove the equity element of the loan and effectively take ownership of the whole property.

The product includes a free valuation and £1,000 cashback to offset higher legal costs.

There are no additional fees and no credit scoring.

The minimum loan amount is £30,000, with a maximum of £500,000.

An early repayment charge of 3 per cent of the balance will apply if the mortgage is repaid in full within the first two years.

This product is available through brokers and direct.

Hanley Economic Building Society head of marketing & business development David Lownds says: “This is a highly competitive product in a market which will see rising demand in the coming weeks and months.

“A wave of Help to Buy borrowers are currently evaluating their remortgage options and now is the perfect time for intermediaries to engage with such borrowers within their existing client bank.”



News Analysis: Help to Buy remortgage customers ‘could struggle for choice’

Lenders’ restricted appetite for Help to Buy remortgages means borrowers face higher prices and limited choice as they start to move off the scheme in just two months’ time. Some even risk becoming mortgage prisoners, experts say. The Government says 28 lenders accept HTB equity loan applications. These include high-capacity firms such as Barclays, Halifax, […]


Help to Buy equity loan scheme set for record year

The Government’s flagship Help to Buy equity loan scheme is on track for a record year in 2017. Figures published by the Ministry of Housing, Communities and Local Government show that more than 32,000 new build homes were purchased using one of these Government-subsidised loans in the first three quarters of last year. This compares […]

Frexit & contagion risk in Europe

Many commentators have suggested the UK’s exit from the European Union will trigger a domino effect, leading to its eventual break-up. Neptune Head of European Equities Rob Burnett discusses the likelihood of this happening. Click here to read more Important informationInvestment risks Neptune funds may have a high historic volatility rating and past performance is […]


News and expert analysis straight to your inbox

Sign up