Hinckley & Rugby for Intermediaries has unveiled a broad update to its mortgage range, introducing new higher-LTV Income Flex products alongside a limited company buy-to-let option, selected rate reductions and term extensions.
With immediate effect, the building society has launched three new Income Flex products at 95% LTV, aimed at borrowers with more complex or varied income profiles where manual underwriting and greater flexibility around affordability are required.
The products are designed to support brokers working with higher-LTV purchasers, including first-time buyers and home movers.
The new Income Flex range comprises a two-year discount at 5.59% variable, priced at 1.30% below the Homeowner Variable Rate, alongside a two-year fixed rate at 6.50% and a five-year fixed rate, also at 6.50%.
The five-year fix is available until 31 March 2031 at 95% LTV.
Alongside the residential changes, Hinckley & Rugby for Intermediaries has introduced a new limited company buy-to-let product, aimed at landlords seeking short-term flexibility within a company structure.
The product is a two-year discount currently priced at 5.4%, which is 1.49% below the Homeowner Variable Rate, and is available up to 70% LTV.
The limited company buy-to-let product is offered with a £999 completion fee and a £250 application fee, providing an alternative to the standard 1% fee typically associated with these products.
The latest update also includes a rate reduction of up to 25 bps on the society’s five-year Income Flex fixed rate at 80% LTV, which is now priced at 5.69%.
Laura Sneddon, head of mortgage sales and distribution at Hinckley & Rugby for Intermediaries, said: “At the start of the year, brokers are already dealing with a broad spread of client needs, from higher-LTV purchasers seeking to meet and match affordability, to landlords reassessing how they structure borrowing in the near-term.
“Product design has to reflect that reality rather than force cases into rigid categories.
“By introducing Income Flex up to 95% LTV, re-pricing selected five-year fixed products, and extending product end dates, we are giving brokers clear, workable options they can rely on when structuring cases in the current market.”
