Local building society Hanley Economic has launched a new mortgage campaign to help first time buyers get on to the property ladder.
The building society, celebrating its 170th birthday later this year, has introduced a product that will only be available to first time buyers who purchase a property in Staffordshire.
The product requires a low deposit of 5% with no application or arrangement fees. A free valuation is also provided.
An outstanding product feature is £2,000 cashback on the completion of the mortgage, and one lucky customer who completes their mortgage by 31 August 2024 will win an extra £10,000 cashback.
The society say the new product forms part of its ongoing support for the community. This includes sponsorship of the Potters Arf’ Marathon and partnerships with local charities YMCA, Glow, Alice Charity, and Dougie Mac.
Figure revealed show that Hanley Economic continues contributing to the region’s economic growth with 800 borrowers in Staffordshire, 1,110 in the West Midlands, and 27,400 savers in Staffordshire.
David Lownds, Head of Products & Marketing at Hanley Economic Building Society, pictured above, said: “Hanley Economic Building Society has been helping Staffordshire residents buy their own homes and save for their futures since 1854.
“To celebrate this milestone, we want to continue to show our support in the community – particularly for local First Time Buyers.
“It’s been a tough time for Staffordshire’s First Time Buyers over the past 18 months or so with higher interest rates and double-digit inflation. With spring just around the corner, this is the time of year when many First Time Buyers look to get onto the property ladder, so we’re expecting a large demand for the product.
“We recognise the challenges which First Time Buyers face, so a low deposit of 5% we believe will be attractive for many, and a £2,000 cashback will go a good way to helping with white goods, decoration and furnishing to make the house a home.
“As an added incentive, one lucky Member will win an additional £10,000 cashback to spend or save as they wish.”
