One of the new mortgages is available at up to 60% LTV, charging an initial 1.85% interest. The overall cost for comparison is 5.0% APR. The second new mortgage is available at up to 70% LTV, charging an initial 1.99% interest. The overall cost for comparison is 5.0% APR.
Both the new mortgages have competitive fees – £295 for arrangement and £695 on completion. There is a free valuation on properties valued under £1 million and there are no early repayment charges.
Hinckley & Rugby chief executive Chris White said:
"These two new fixes have attractive interest rates during the fixed rate period. And with low fees and no early repayment charges we expect them to be popular in the market both via brokers and direct.”