Hinckley & Rugby Building Society, which lends throughout England & Wales, has launched two new fixed rate mortgages. Both are fixed for two years and charge less than two per cent interest.
One of the new mortgages is available at up to 60 per cent loan to value (LTV), charging an initial 1.85 per cent interest. The overall cost for comparison is 5 per cent APR.
The second new mortgage is available at up to 70 per cent loan to value (LTV), charging an initial 1.99 per cent interest. The overall cost for comparison is 5 per cent APR.
Both the new mortgages have competitive fees – £295 for arrangement and £695 on completion. There is a free valuation on properties valued under £1 million and there are no Early Repayment Charges (ERCs).
Because Hinckley & Rugby does not use automated underwriting, all lending decisions are taken by the Society’s staff. Credit scoring systems are not used – applicants with little or no credit history will not automatically be rejected.
Brokers – including directly authorised and appointed representatives – can easily access the Society’s underwriting decision makers to discuss individual circumstances.
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