Hinckley & Rugby Building Society and PMS have launched a new lifetime tracker product.

The current pay rate of 4.44% (4.6% APR) is Base Rate + 3.94% for the life of the mortgage. It is available for both purchase and remortgage up to 80% LTV.

For remortgages, there is a free valuation and legal service. There is an arrangement fee of £395 which is paid up-front and completion fee of £395 which is added to the advance.