The new 95% LTV mortgage has a lifetime discount of 1.85% off the Society’s SVR, and has an initial charging rate of 3.79%. The 90% LTV mortgage has a lifetime discount of 2.85% off the Society’s SVR. The initial charging rate is 2.79%, and the product is available for new build houses and flats.
Both mortgages have a £199 arrangement fee, an £800 completion fee, and are available with offset savings accounts which can be operated online. There are free valuations up to £1 million and no ERCs.
Hinckley & Rugby chief executive, Chris White, said:
“We’ve long had a lifetime discount at a lower LTV so this is a natural extension to appeal to first time buyers and others with a smaller deposit.
“The optional offset facility gives borrowers the flexibility to reduce the interest charged and ultimately the length of the loan, which can be a real plus for people who have savings balances either now or in the future.”
Available direct and through brokers, details of the new mortgages and the Society’s entire range of products is at www.hrbs.co.uk
