Rate cuts and new BTL from the Hinckley & Rugby

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Hinckley & Rugby Building Society has reduced the interest rates on four mortgages, including one at 95% LTV.

The mutual has also launched a new buy-to-let two-year discount mortgage at 2.89%.

The mortgages are available direct and via all intermediaries.

The four rate cuts are:

  • A two-year discount at up to 95% LTV, with no ERC, has seen its rate reduced to 3.59% (was 3.69%). The discount off the SVR is increased to 2.05%
  • A five-year fix at up to 80% LTV is cut to 2.99% (was 3.24%)
  • A five-year fix at up to 85% LTV is now 3.09% (was 3.35%)
  • A five-year fix at up to 90% LTV is cut to 3.79% (was 3.89%).

All other terms remain the same.

The new buy-to-let is a two-year discount at up to 75% LTV which has a current interest rate of 2.89%. The arrangement fee is £250 and the completion fee is £999. This product has no ERC.

Carolyn Thornley-Yates, Hinckley & Rugby’s head of intermediary sales, said: “With our personal service and manual underwriting, we are confident these competitively priced mortgages will be popular with intermediaries and their customers.”

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