The Hinckley & Rugby Building Society has reduced the interest rate on three mortgages.

The Society’s residential two year discount mortgage at up to 80% LTV is cut from 2.45% to 2.24%.

Hinckley & Rugby’s two year discount mortgage at up to 75% LTV has been reduced from 2.35% to 2.15%.

Finally, the two year fixed rate mortgage at up to 80% LTV is cut from 2.59% to 2.29%.

All have fees of £295 for arrangment and £695 on completion. There is a free valuation and, like all Hinckley & Rugby mortgages, there are no Early Repayment Charges (ERCs).

Chris White, Hinckley & Rugby chief executive, said: “The interest rate on these three key mortgages for buyers and remortgagers have been cut to make them even more attractive.”