Hinckley & Rugby Building Society has cut the interest rates on fixed rate mortgages at up to 95% and 90% LTV.

The 95% LTV two-year fix has seen its rate cut from 4.59% to 4.29%. The overall cost for comparison is now 5.1% APR.

Meanwhile, the 90% LTV two-year fix has seen its rate cut from 3.14% to 2.95%. The overall cost for comparison is now 4.9% APR.

For both mortgages the two-year fix period is followed by a further three years at 3.99%, a 1.65% discount from the Society’s SVR, before the mortgages revert to the SVR.

The mortgages have no ERC. The £199 arrangement fee and £800 completion fee are unchanged.

Hinckley & Rugby chief executive Chris White (pictured) said: “These are very attractive reduced rates that offer customers the certainty of a fix followed by the value of a discounted rate.”