The mortgages were withdrawn earlier this year due to exceptionally high levels of demand. They now rejoin the range of mortgages from the Society which also includes a two year fix, two year and lifetime discounts, trackers and buy-to-let products.
The five year fix has an initial interest rate of 3.35 per cent, fixed until June 30 2018. The mortgage is available at up to 80 per cent loan-to-value and the overall cost for comparison is 4.5 per cent APR.
There is a £195 arrangement fee and a £695 completion fee. As with all Hinckley & Rugby’s current mortgage range, there is no Early Repayment Charge.
The fee-free lifetime discount mortgage for up to 75 per cent LTV has an interest rate for the term of the mortgage of 3.49 per cent, a 2.15 per cent discount off the Society’s Standard Variable Rate. The overall cost for comparison is 3.6 per cent APR. It is available as an offset mortgage.
Hinckley & Rugby chief executive Chris White said:
“We’ve reintroduced two very popular mortgages and expect them to have wide appeal to buyers and introducers who are in the market for keenly priced products delivered with outstanding service.”
