The Hinckley & Rugby Building Society has reduced the interest rates on four of its mortgages: two discounts and two fixed rate products. 

The two-year discount mortgage at up to 85% LTV has had its rate cut from 1.89% to 1.65%, while the two-year discount mortgage at up to 90% LTV has seen its rate cut from 2.19% to 2.09%.

The two-year fixed rate mortgage at up to 85% LTV, has seen its rate cut from 2.49% to 2.29% and the fixed rate mortgage at up to 90% LTV has been reduced from 2.59% to 2.35%.

All other terms for the mortgages are unchanged. As with all Hinckley & Rugby Building Society’s mortgages, each comes with £150 cashback on completion of residential mortgage applications submitted during the month of January 2016.

Carolyn Thornley-Yates, Hinckley & Rugby head of intermediary sales, said: “These new mortgages are priced to be ultra-competitive and we hope the £150 cashback offer will make them even more popular. All our mortgages are backed by our outstanding service levels and manual underwriting decisions.”