New five-year fix at Hinckley and Rugby
Hinckley and Rugby Building Society has today announced changes to its high LTV products.
The organisation has launched a new 95% LTV mortgage, alongside cutting rates on two other high-end deals.
Changes
Coming with a £199 booking fee and £800 completion charge, the new 95% LTV mortgage is a five-year fix at 4.79%. In addition, there are free valuations up to £1m.
However, the mortgage does have ERC’s ranging from 5% in year one to 1% in year five. Overpayments of up to 10% per annum are permitted, without incurring ERC’s.
Included in the rate cuts are a two-year fix at up to 95% now at 3.95%, from 4.29% and a five-year fixed rate deal at 3.54% up to 90% LTV, from 3.79%.[1]
For the two-year discount buy-to-let mortgage at up to 75% LTV, the building society has moved the completion fee from £999 to 2.5% of the advance payment.[1]
New five-year fix at Hinckley and Rugby
Hinckley and Rugby chief executive Chris White commented, ‘available direct and through brokers, the new five-year fix is designed to be attractive to first time buyers and well as the wider market.’[1]
‘These are very attractive reduced rates that offer customers the certainty of a fix followed by the value of a discounted rate,’ he added.[2]
[1] http://www.propertyreporter.co.uk/finance/new-5-year-fix-launches-at-hinckley-and-rugby.html
[2] www.mortgagefinancegazette.com/latest-news/hinckley-rugby-cuts-rates-on-high-five-litv-fixes