Hanley Economic Building Society has expanded its residential mortgage range to support foreign nationals living and working in the UK.

The society has introduced 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.

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.

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.

Hanley Economic Building Society head of products and marketing David Lownds says: “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.”

Last week, Hanley Economic Building Society introduced a two-year interest-only self-build variable discount mortgage with an initial pay rate of 5.84%.