Hanley Economic Building Society has launched two residential fixed-rate mortgages.

The first is a remortgage only 1.75% two-year 80% LTV fixed-rate loan, which comes with one free standard valuation and free legal fees.

The second is a five-year 95% LTV fixed-rate offer with a headline rate of 3.45%, which is available for house purchases or remortgages.

Both of these products are for properties in England, Wales and Scotland. They have a minimum loan amount of £30,000, a maximum loan amount of £500,000 and each carries a £299 application fee.

Hanley Economic Building Society head of marketing & business development David Lownds says: “First-time buyers, including those taking out a shared ownership option, accounted for 40% of all our new business lending in 2020 to 2021.

“Moving forward, we are looking to support even more people onto the property ladder, especially those who may have smaller deposits but fit within our affordability profile.

“The remortgage market will also prove to be a key area for the intermediary market in the first quarter of 2022 as a vast number of mortgage terms are set to mature and this pair of products will help provide valuable options for those looking to lock into a longer or shorter-term deal.”