The mortgage is being marketed through the estate agency networks of the Connells Group and Arun Estates.
Available for purchases and like-for-like remortgages, the mortgage is a discount of 0.35 per cent off the Society’s Standard Variable Rate (SVR) which is currently 5.64 per cent. The overall cost for comparison is 5.7 per cent APR.
There is a £295 application fee and £695 completion fee. The valuation is free for properties worth up to £1 million. There are no early repayment charges.
Hinckley & Rugby business development manager Carolyn Thornley-Yates said:
“Unlike many other products at 95 per cent LTV, this exclusive does not require any sort of parental involvement or guarantee.”
Karen Faulkner, mortgage services development manager at Connells Group, said:
“Connells Group Mortgage Services is commited to providing customers with a range of innovative products so I am delighted to be launching this 95 per cent mortgage from Hinckley & Rugby Building Society.
“It presents a fantastic opportunity for our customers and is an endorsement to our long standing relationship with Hinckley & Rugby Building Society.
Carolyn Thornley-Yates said:
“Our relationship with Connells spans the last two decades and they have provided us with high levels of good quality applications over the years, so we expect this exclusive to be very popular.”
