The Hinckley & Rugby Building Society has launched three new reversionary two-year fixed rate mortgages at 80%, 85% and 95% LTV.

After the two-year fix period ends there is a further three years at a 1.65% discount from the society’s SVR before they revert to the SVR.

The new mortgages replace the society’s existing fixes, which revert to the SVR after the two years.

The new mortgages’ two year fix rates are:

• 2.19% for up to 80% LTV
• 2.65% for up to 85% LTV
• 4.59% for up to 95% LTV

All three mortgages have a £199 arrangement fee and an £800 completion fee. They also have no ERC.

Hinckley & Rugby chief executive Chris White said: “These reversionary mortgages offer customers the certainty of a fix followed by the value of a discounted rate.”