"Free-free mortgages at such high loan to values help first-time buyers manage both their deposit and their budget"
A two-year fixed rate joint borrower sole proprietor product has reduced from 3.49% to 3.29%. At the end of the fix there are three years at the discount rate, currently 4.49%.
A five-year fix joint borrower sole proprietor product has also been reduced from 3.89% to 3.69%.
Additionally, a three-year fixed rate has been cut from 3.24% to 2.88%, offering the discount rate for a further two years.
All three new mortgage rates are fee-free.
Carolyn Thornley-Yates, head of sales and marketing at Hinckley & Rugby, said: “Free-free mortgages at such high loan to values help first-time buyers manage both their deposit and their budget as they move into their first own home.
“We have been offering joint borrower sole proprietor mortgages since 2016 to enable parents, who already own their home, to help a son or daughter. As we do not have a maximum age at term-end, these mortgages are now an option for all generations within families to back their buyers.”
