The Hinckley & Rugby Building Society has cut rates on seven of its mortgages.
The rates on its four of the mutual’s two-year fixes have been reduced by up to 0.5 percentage points, as has a five-year fix and two buy-to-let products.
The rate cuts to the two-year fixes are:
- 95% LTV – charging rate cut from 4.89% to 4.75%
- 90% LTV – charging rate cut from 3.79% to 3.29%
- 85% LTV – charging rate cut from 2.85% to 2.65%
- 80% LTV – charging rate cut from 2.34% to 2.19%.
For purchases there is now a scaled valuation fee on the two-year fixes, beginning at £245. Valuations are still free of charge for remortgages up to £1 million in value.
The five year fix at up to 90% LTV has seen its rate cut from 4.49% to 4.29%. All other terms remain the same.
The two buy-to-let mortgages are both two year discounts (all other terms remain unchanged):
- 75% LTV – charging rate cut from 3.35% to 3.19%
- 60% LTV – charging rate cut from 3.24% to 2.99%.
The two-year fixes and the buy-to-lets have no ERCs.
Chris White (pictured), the Hinckley & Rugby’s chief executive, said: “Our two-year fix range is now ultra competitive and should interest remortgagers, buyers and their brokers. Investors will like our buy-to-let move, which at up to 60% LTV takes the rate under 3%.”
