Hinckley & Rugby Building Society has cut the interest rates on three high LTV mortgages.

The 95% LTV two year discount mortgage has seen its rate cut from 4.45% to 3.85%.

Another two year discount, at up to 90% LTV, is down from 2.79% to 2.45%.

And the two year fix at up to 90% LTV has been cut from 3.29% to 2.95%.

All other terms remain the same. The application fee is £199 and the completion fee is £800. There are no ERCs. And the HLC is paid by the Society.

For purchases using the two year fix there is a scaled property assessment fee, starting at £245 for homes up to £200,000. For a remortgage there is no fee for properties valued up to £1million. For the discount mortgages, all valuations are free up to £1 million.

Chris White, Hinckley & Rugby chief executive, said: “Higher LTVs are very much sought after, particularly by first time buyers. So these three rate cuts should be welcomed by buyers across England and Wales and by their brokers.”