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Hinckley & Rugby Building Society will today launch a new two year fixed rate mortgage at 3.89 per cent interest for up to 90 per cent Loan to Value (LTV).
Alongside competitive fees – £295 for arrangment and £695 on completion – there is a free valuation for properties up to £1 million and, like all Hinckley & Rugby mortgages, there are no Early Repayment Charges (ERCs). The overall cost for comparison is 5.4 per cent APR.
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.
Hinckley & Rugby chief executive Chris White said: “There is growing demand for mortgages at up to 90 per cent LTV and this fix offers very competitive repayments during the first two years.”
Details of all the Society’s mortgages are at www.hrbs.co.uk
