Hanley Economic Building Society has launched a pair of five-year fixed-rate remortgage special deals.

The first, is a five-year fixed-rate buy-to-let remortgage with a headline rate of 3.03%, available up to 80% loan-to-value, with a £750 product fee and a valuation fee, which is subject to the value of the property.

The second, is a five-year no-fee fixed-rate residential remortgage with a headline rate of 2.05%, available up to 85% LTV, with no application or products fees, one free standard valuation and free legal fees.

The mutual says both of these products are applicable for properties throughout England and Wales, while the residential remortgage offer is also available for properties in Scotland.

They both have a minimum loan amount of £30,000 rising to a maximum of £500,000.

The lender adds that each application will be looked at on an individual basis by its in-house underwriting team. This means there will be no credit scoring, with both products available through the building society’s seven branches and selected intermediary channels, which includes Paradigm Mortgage Services, TMA and SimplyBiz.

Hanley Economic Building Society head of marketing & business development David Lownds says: “It’s clear that the remortgage market has started 2022 with a bang. And, with the Bank of England raising interest rates for the second time in three months to 0.50%, demand among homeowners and landlords who are in a position to take advantage of some highly competitive rates is set to intensify.

“In order to satisfy these demands, choice is vital for such borrowers when it comes to the length of product terms, access to higher LTV lending and in lowering upfront costs.

“We believe this product pairing will prove attractive to our intermediary partners and help provide a competitive new option within the remortgage market.”