The Hinckley & Rugby Building Society has reduced the interest rate on the 95% LTV three-year discount mortgage available exclusively to intermediaries through the Connells Group.

The rate has been cut from 4.99% to 4.75%.

Other details remain unchanged and the overall cost for comparison is 5.5% APR. The mortgage has fees of £295 for arrangment and £695 on completion. There is a free valuation and, like all Hinckley & Rugby mortgages, there are no Early Repayment Charges (ERCs).

Hinckley & Rugby business development manager Carolyn Thornley-Yates said: “We enjoy working with Connells, its brokers and their customers – this rate cut makes their exclusive 95% LTV mortgage even more attractive.”