The Hinckley & Rugby Building Society has cut the rate on three of its 95% LTV residential mortgage deals.

The rate on the mutual’s five-year fixed mortgage has changed from 3.75% to 3.49%. Its two-year fix is now charging 3.09%, down from the previous 3.19%.

The society’s two-year discount, which was charging 3.34%, is now 2.99%.

All the other features of the three mortgage products remain unchanged.

Carolyn Thornley-Yates, the Hinckley & Rugby head of sales and marketing, said: “Whether your client is a first time buyer, remortgaging or moving up the ladder, a 95% LTV product can be just what they are looking for.

“By cutting these rates we now offer even greater value among the options for borrowers with smaller deposits. And all our mortgages are backed by our outstanding customer service and the benefits of our manual underwriting.

“Applications which mainstream lenders might reject out of hand can be referred to the daily meetings of our senior decision makers who look at applications in the round.”