Hinckley & Rugby launches Help to Buy exclusive with MAB

Hinckley & Rugby Building Society has launched an exclusive Help to Buy remortgage product with Mortgage Advice Bureau.

Related topics:  Mortgages
Rozi Jones
21st March 2018
hinckley rugby bs building society H&R
"This new exclusive with MAB is designed for customers who wish to remortgage and capital raise to repay the full amount of Help to Buy equity loan"

The product will enable homeowners to pay down their Help to Buy equity loan ahead of the five year anniversary when many existing equity loans will become interest bearing.

The two-year fixed rate product is available at 2.74% up to 90% LTV with £1,000 cashback, no arrangement of completion fees, and free valuation for properties worth up to £1m.

Hinckley & Rugby’s head of sales and marketing, Carolyn Thornley-Yates, said: “This new exclusive with MAB is designed for customers who wish to remortgage and capital raise to repay the full amount of Help to Buy equity loan currently secured against the property.

“It’s a great example of Hinckley & Rugby working with a network to create a product that addresses a niche need with a competitive mortgage that is delivered with our flexible approach to underwriting and outstanding levels of customer service.”

Brain Murphy, head of lending at MAB, added: “We are delighted to be able to give Mortgage Advice Bureau customers exclusive access to this new product from Hinckley & Rugby Building Society.

“We are committed to helping increase the limited market options for those Help to Buy customers looking to pay off their equity loan and this competitive fixed rate 90% LTV remortgage product with no fees attached to the product, and £1,000 cash back, helps minimise additional costs and simplifies the process of taking out the Government’s second charge.”

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