Hinckley & Rugby Building Society has launched two new fixed rate mortgages.

Both are fixed for two years and charge under 2% interest.

The first is available at up to 60% loan to value (LTV), charging an initial 1.85% interest.

The second new mortgage is available at up to 70% loan to value (LTV), charging an initial 1.99% interest.

Both the new mortgages have fees of £295 for arrangement and £695 on completion. There is a free valuation on properties valued under £1 million and there are no Early Repayment Charges (ERCs).

Hinckley & Rugby chief executive Chris White said: “These two new fixes have attractive interest rates during the fixed rate period. And with low fees and no early repayment charges we expect them to be popular in the market both via brokers and direct.”