The two year fixed rate mortgage now has an initial interest rate of just 2.99%, a 0.26 percentage point cut from its previous 3.25%.
And the two year discount mortgage is from today just 2.89%, also a 0.26 percentage point cut. The previous rate was 3.15%.
The fixed rate mortgage is fixed until March 31 2015, when the interest rate reverts to the Society’s Standard Variable Rate, currently 5.64%. The overall cost for comparison is 5.2% APR.
The two year discount also reverts to the Society’s Standard Variable Rate, currently 5.64%. The overall cost for comparison is 5.2% APR.
The fees remain unchanged on both mortgages. There is an arrangement fee of £195 and a completion fee of £695, and no early repayment charge. There are free valuations for property values up to £1 million.
Hinckley & Rugby chief executive Chris White said:
“These mortgages are now even more tremendous value and we look forward to helping many homebuyers.”
