Hinckley & Rugby for Intermediaries has announced sweeping rate reductions of up to 23 basis points across its entire range of mortgage products, with immediate effect.
The reductions apply across the society’s core fixed-rate offering as well as its specialist ranges, including Income Flex, Credit Flex and Flex Plus.
Retention products have also been repriced, with reductions of up to 25 basis points for existing borrowers nearing the end of their current terms.
Within the core fixed-rate range, the five-year fix at 80% loan-to-value (LTV) has fallen by 23bps to 5.39%, while the same term at 90% LTV is now priced at 5.64%, down 18bps.
Significant reductions have also been applied to Hinckley & Rugby’s Income Flex range, which caters to applicants with multiple or variable income streams. The two-year fix at 80% LTV now stands at 5.89%, a drop of 21bps, while the five-year fix at the same LTV is priced at 5.69%, down 16bps.
At 90% LTV, the two- and five-year fixed options have been reduced to 6.15% and 5.90% respectively.
The Credit Flex range, designed for borrowers with historic credit issues whose financial situations have since improved, also sees rate cuts. The two-year fix at 80% LTV is down by 11bps to 5.99%, with the five-year equivalent reduced by 10bps to 5.79%.
The Flex Plus range, intended for borrowers with complex affordability profiles or specialist requirements, has been reduced by as much as 23bps. The five-year fix at both 80% and 90% LTV is now priced at 6.22% and 6.27% respectively.
These products cater to applicants with irregular earnings, layered income, or past credit events requiring more bespoke underwriting.
In addition to its new lending proposition, the society has refreshed its full retention product suite, with reductions of up to 25bps now in place.
Laura Sneddon, head of mortgage sales and distribution at Hinckley & Rugby for Intermediaries, said the changes underline the society’s commitment to offering competitive, flexible lending in a market where borrower needs continue to diversify.
“Our latest rate changes are designed to give brokers competitive solutions in areas of the market where flexibility is vital. Whether it’s non-standard income, credit complexity or long-term affordability, these products offer strong options for clients who may struggle to access mainstream deals,” she said.
“By reducing rates across a range of specialist and core products, we’re giving brokers more room to manoeuvre, with pricing that stays competitive while still backed by the tailored, case-by-case approach we’re known for.
“At the same time, we’re also making sure our existing borrowers are well served. The updates to our retention range allow brokers to support clients beyond their initial fixed term with improved value and a smoother product transfer process.”
