These include a 2.72% two year discount (2.92% off the lender’s SVR) up to 60% LTV with a £2495 arrangement fee, and a 2.85% two year fixed rate up to 60% LTV with a £1950 arrangement fee. Both products have a free valuation for properties up to £1,000,000, a cashback of £250 and there are no early repayment charges.
Andy Young, chief executive at TBMC, said:
“We have been working closely with Hinckley & Rugby to design highly competitive buy-to-let mortgages to meet the needs of landlords and these new 60% LTV products are outstanding. The 2.72% two year discount is, in fact, the lowest buy-to-let rate that TBMC has ever offered. The free valuation for properties up to £1,000,000 and £250 cashback makes it even more attractive in the current marketplace and we are expecting a high level of interest.
"For brokers with landlord clients who prefer to fix their monthly costs, the 2.85% two year fixed rate is an excellent choice. These new product offerings demonstrate Hinkley & Rugby’s commitment to the buy-to-let mortgage market and to selective distribution through specialist buy-to-let brokers like TBMC.”
Carolyn Thornley-Yates, responsible for intermediary development at Hinckley & Rugby, said:
“The buy-to-let mortgage sector is becoming more competitive and the demand from landlords is ever present. Hinckley & Rugby has kept a close eye on recent buy-to-let developments and has the capability to re-design its products to meet the changing environment.
“These new 60% LTV rates are keenly priced and provide a great opportunity for landlords currently looking to purchase or remortgage buy-to-let properties. Hinckley & Rugby is committed to providing excellent service to intermediaries, with a dedicated Business Development department able to discuss cases personally.”
