Hinckley & Rugby Building Society announced this week it has reduced the interest rates on fixed-rate mortgages at up to 95 and 90 per cent loan-to-value (LTV).
The society now offers its 95 per cent LTV two-year fixed product at a rate of 4.29 per cent with the overall cost for comparison now standing at 5.1 per cent APR.
For borrowers with a 10 per cent deposit, Hinckley & Rugby has cut the rate on its 90 per cent LTV two-year fix to 2.95 per cent. The overall cost for comparison is now 4.9 per cent APR.
For both mortgages the two-year fix period is followed by a further three years at 3.99 per cent, a 1.65 per cent discount from the society’s standard variable rate (SVR), before the mortgages revert to the SVR.
The mortgages have no early repayment charges (ERC) and come with a £199 arrangement fee and a £800 completion fee.
