The Hinckley & Rugby Building Society has cut the interest rates on five discount mortgages.

Its two-year discount mortgage at up to 90% LTV has had its rate cut from 2.09% to 1.95%. Another two-year discount, at up to 95% LTV, is now charging 3.39% after it was cut from 3.59%.

The 90% LTV lifetime discount mortgage has been cut from 2.39% to 2.24%.

In addition, the lifetime discount at up to 95% LTV has seen its rate cut from 3.79% to 3.49%.

All other terms for the four mortgages are unchanged. None has ERCs.

The fifth rate cut is to the buy-to-let two-year discount at up to 75% LTV. That charging rate is down from 3.09% to 2.99%. The completion fee is reduced to 1.5% of the loan amount.

Carolyn Thornley-Yates, the Hinckley & Rugby’s head of intermediary sales, said: “The brokers and customers are showing a real appetite for discount products, and these rate cuts make our discount mortgages very attractive, including at high LTVs.”