Hinckley & Rugby Building Society has cut the interest rate on its five year fix by 0.20 percentage points to 3.45 per cent.
The fixed rate period has been extended and will apply until October 31 2018. All other terms are unchanged. The mortgage is available for purchases and remortgages and there is a free property assessment where the price of the property is £1 million or less.
The five year fix is available at up to 80 per cent Loan to Value (LTV). The arrangement fee is £195 and completion fee £695. Like all Hinckley & Rugby residential mortgages, there are no early repayment charges (ERCs). The overall cost for comparison is 4.6 per cent (APR).
Hinckley & Rugby chief executive Chris White said: “We have been making our mortgages even more attractive to borrowers in recent days – including discounts, trackers and more. This reduced rate makes our five year fix a great deal for those looking for long-term certainty about their repayments.”