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New five-year fix at Hinckley and Rugby
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Hinckley and Rugby Building Society has today announced changes to its high LTV products.
The organisation has launched a new 95% LTV mortgage, alongside cutting rates on two other high-end deals.
Changes
Coming with a £199 booking fee and £800 completion charge, the new 95% LTV mortgage is a five-year fix at 4.79%. In addition, there are free valuations up to £1m.
However, the mortgage does have ERC’s ranging from 5% in year one to 1% in year five. Overpayments of up to 10% per annum are permitted, without incurring ERC’s.
Included in the rate cuts are a two-year fix at up to 95% now at 3.95%, from 4.29% and a five-year fixed rate deal at 3.54% up to 90% LTV, from 3.79%.[1]
For the two-year discount buy-to-let mortgage at up to 75% LTV, the building society has moved the completion fee from £999 to 2.5% of the advance payment.[1]
New five-year fix at Hinckley and Rugby
Hinckley and Rugby chief executive Chris White commented, ‘available direct and through brokers, the new five-year fix is designed to be attractive to first time buyers and well as the wider market.’[1]
‘These are very attractive reduced rates that offer customers the certainty of a fix followed by the value of a discounted rate,’ he added.[2]
[1] http://www.propertyreporter.co.uk/finance/new-5-year-fix-launches-at-hinckley-and-rugby.html
[2] www.mortgagefinancegazette.com/latest-news/hinckley-rugby-cuts-rates-on-high-five-litv-fixes
