At the higher end of the LTV scale, the current advance limit of £275,000 at 95% LTV is going up to £300,000. At 90% LTV the limit goes up from £300,000 to £325,000.
At 65% LTV, the present £650,000 limit rises to £710,000.
The Society has also revamped its interest-only criteria, extending its repayment vehicles to accept the sale of the mortgaged property, for instance where homeowners intend to downsize in the future.
The property value must be £400,000 or more and the LTV 50% or less, or up to 80% on a part-and-part basis.
Previously, Hinckley & Rugby has only accepted a sale of a property in the background as a mortgage repayment vehicle.
Hinckley & Rugby head of intermediary sales, Carolyn Thornley-Yates, said: “We’re constantly listening to feedback from introducers and customers and these policy changes are designed to cater for their evolving needs.”
