Hinckley & Rugby Building Society has launched a new buy-to-let mortgage at an initial interest rate of 4.19%.

The mortgage, available at up to 75% LTV, is a two-year discount of 1.45% off the Society’s Basic Variable Rate for buy-to-let mortgages of 5.64%. The overall cost for comparison is 5.5% APR.

The mortgage has an application fee of £250 and a completion fee of £1,250. The completion fee can be added to the loan, as long as the LTV does not exceed 75%.

As with all Hinckley & Rugby mortgages, there are no Early Repayment Charges (ERCs).

Carolyn Thornley-Yates, Hinckley & Rugby’s business development manager, said: “This is a very attractive mortgage for investors in buy-to-let.

“It is backed by our outstanding levels of customer service and individual approach to underwriting.”