Hinckley & Rugby unveils discount remortgage deals for lower-LTV borrowers

Hinckley & Rugby for Intermediaries has launched two exclusive discount mortgages aimed at brokers placing remortgage business for borrowers at lower loan-to-value levels.

The products, available from 31 March, include a two-year discount rate of 4.09% up to 60% loan to value and a 4.34% option up to 75% loan to value.

Both deals come with no application fee, an £800 completion fee and a payable valuation fee. The maximum loan size is £500,000 and the products are available on remortgage cases only.

The launch comes as lenders continue to position for a busy refinancing market. Citing UK Finance data, Hinckley & Rugby said around 1.8 million fixed-rate mortgages are due to mature in 2026, which is expected to keep demand for competitively priced remortgage options high.

Hinckley & Rugby for Intermediaries said the products are intended for standard borrowers reaching the end of lower fixed-rate periods, particularly those who have moved into lower LTV bands and are seeking keener pricing.

The mutual continues to offer a wider specialist range through its intermediary arm, including products for complex income cases, self-employed borrowers, first-time-buyers, buy-to-let, joint borrower sole proprietor and its Income Flex proposition.

Laura Sneddon, head of sales and distribution at Hinckley & Rugby for Intermediaries, said: “Offering consistency and value as product pricing shifts quickly is even more important in the type of market environment we are currently witnesses, with brokers having to keep pace with frequent changes across the market.

“Our latest discount products are aimed squarely at standard borrowers coming to the end of low fixed rates, particularly those moving into lower LTV positions who are focused on securing a competitive deal.

“We know many clients are facing a step up in monthly payments, and while we cannot remove that entirely, we can help soften the impact by offering strong value where it matters most. Our focus is on giving brokers confidence they have a reliable option for remortgage cases in a volatile market.”