Hinckley & Rugby cuts BTL to below 3.5%

Hinckley & Rugby Building Society has today cut the interest rate on its Buy To Let two year discount mortgage from 4.19% to 3.49%. The mortgage is available at up to 75% LTV.

Related topics:  Mortgages
Amy Loddington
8th November 2013
Mortgages

The mortgage is a two-year discount of 2.15% off the Society’s Basic Variable Rate for BTL mortgages of 5.64%. The overall cost for comparison is 5.3% APR.

The fees are unchanged, at £250 on application and £1,250 on completion. The completion fee can be added to the loan, as long as the LTV does not exceed 75%. As with all Hinckley & Rugby mortgages, there are no Early Repayment Charges.


The mortgage is available through intermediaries and there is a property assessment fee on a sliding scale from £265. The Society also offers two year discount Buy To Let mortgages at up to 60% LTV with interest rates starting at 2.74%.

Hinckley & Rugby business development manager Carolyn Thornley-Yates said:

“Cutting the interest below 3.5% on a 75% LTV mortgage makes this product highly competitive. It is backed by our outstanding levels of customer service and individual approach to underwriting."

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