Alongside competitive fees – £295 for arrangment and £695 on completion – there is a free valuation for properties up to £1 million and, like all Hinckley & Rugby mortgages, there are no Early Repayment Charges. The overall cost for comparison is 5.4% APR.
Because Hinckley & Rugby does not use automated underwriting, all lending decisions are taken by the Society’s staff. Credit scoring systems are not used – applicants with little or no credit history will not automatically be rejected.
Brokers – including directly authorised and appointed representatives – can easily access the Society’s underwriting decision makers to discuss individual circumstances.
Hinckley & Rugby chief executive Chris White said:
“There is growing demand for mortgages at up to 90% LTV and this fix offers very competitive repayments during the first two years.”
