Hanley reforms flat applications criteria

Hanley Economic Building Society will now accept applications on flats of up to 10 storeys high.

This is an increase on the previous maximum of five.

The lender adds that this is available on all flat types, including shared ownership and new builds.

Hanley Economic Building Society head of marketing and business development David Lownds says: “The shared ownership and first-time buyer markets remain important platforms within the wider lending arena, and major focal points in our current product range.

With increasing numbers of development and construction projects taking place – in terms of size, scale and volume – all over the UK, borrowers and intermediaries need more options in how they finance such property purchases.

“Many of our intermediary partners are seeing an uplift in the levels of their shared ownership business and we feel this criteria change will help them meet the needs of even more FTB, new build and shared ownership clients.”

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