The rate on the 80% LTV two year discount mortgage has been cut to 2.45% from 2.65 %. The rate is a 3.19% discount off the Society’s Standard Variable Rate. The overall cost for comparison is 5.1%.
The rate on the 80% LTV two year fixed rate mortgage has been cut to 2.59% from 2.75%. The overall cost for comparison is 5.1%.
Fees for both mortgages are unchanged at £295 for arrangement and £695 for completion. As with all Hinckley & Rugby’s residential mortgages, there are no Early Repayment Charges.
There is also a new two year discount mortgage at up to 85% LTV, charging 3.09%. The fees are £295 for arrangement and £695 for completion. The overall cost for comparison is 5.2%.
A new lifetime discount mortgage, also at up to 85% LTV, is charging 3.49%. The fees are £295 for arrangement and £695 for completion. The overall cost for comparison is 3.6%.
Hinckley & Rugby chief executive Chris White said:
“The new mortgages and reduced rates are very attractive. We expect them to be popular with buyers and those remortgaging.”
