The Hinckley & Rugby Building Society has unveiled a three-year discount mortgage.

It is available up to 80% LTV with no arrangement or completion fees to pay.

The mortgage is at an initial 3.99% interest, a discount of 1.65 per cent off the SVR.

There is an early repayment charge of 1.00% of the amount paid early, plus fees, during the first three years.

Chris White, Hinckley & Rugby chief executive, said: “With no fees to pay and a competitive interest rate we expect this mortgage to be very popular.”