The new five year fixed rate mortgage charges interest of 3.39%, with an overall cost for comparison of 4.7% APR. It is available at up to 80% LTV.
The fees are £295 for arrangement and £1,895 on completion. There is a free valuation and, like all Hinckley & Rugby mortgages, there are no early repayment charges.
Also today there is a rate cut of 0.09% off the existing two year discount mortgage at up to 80% LTV, which is now charging an initial 2.15% (overall cost for comparison is 5.0% APR). All other terms are unchanged.
Hinckley & Rugby chief executive Chris White said:
“Against a backdrop of growing expectations of base rate increases, our five year fix will appeal to buyers across England and Wales seeking certainty about their repayments into 2019.”
