Hinckley & Rugby for Intermediaries has announced rate reductions of up to 0.23% across its full mortgage product range, including core, Income Flex, Credit Flex and Flex Plus ranges.
Effective immediately, the Society has made pricing changes designed to give brokers greater flexibility when supporting clients with non-standard income, historic credit issues or complex affordability needs, as well as those seeking competitive options through more mainstream criteria.
In its core product range, five-year fixed rates have reduced by 23bps to 5.39% at 80% LTV and by 18bps to 5.64% at 90% LTV.
The Society's Income Flex range has seen reductions of up to 0.21%. Two-year fixed rates now start from 5.89% at 80% LTV and 6.15% at 90% LTV, with five-year fixes reducing to 5.69% at 80% LTV and 5.90% at 90% LTV.
The Income Flex range is designed for applicants with multiple or variable income streams, Income Flex supports borrowers who may fall outside traditional affordability models.
Credit Flex products, for borrowers with historic credit issues, include a two-year fix at 5.99% and five-year fix at 5.79%, both at 80% LTV.
In Hinckley's Flex Plus range, for complex affordability or specialist needs, two-year fixed rates are down by 10bps, starting from 6.15% at 80% LTV and 6.30% at 90% LTV. Five-year fixes are down by 23bps to 6.22% at 80% LTV and 6.27% at 90% LTV.
Flex Plus products are designed for borrowers with more complex circumstances, such as layered income sources, irregular earnings or historic credit events, where a more bespoke underwriting approach is needed.
Alongside its new business changes, Hinckley & Rugby has also amended rates across its full retention range, with reductions of up to 25 basis points.
Laura Sneddon (pictured), head of mortgage sales and distribution at Hinckley & Rugby for Intermediaries, said: “Our latest rate changes are designed to give brokers competitive solutions in areas of the market where flexibility is vital. Whether it’s non-standard income, credit complexity or long-term affordability, these products offer strong options for clients who may struggle to access mainstream deals.
“By reducing rates across a range of specialist and core products, we’re giving brokers more room to manoeuvre, with pricing that stays competitive while still backed by the tailored, case-by-case approach we’re known for.
“At the same time, we’re also making sure our existing borrowers are well served. The updates to our retention range allow brokers to support clients beyond their initial fixed term with improved value and a smoother product transfer process.”
