New 95 per cent LTV mortgage from Hinckley & Rugby
21st February 2014
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Hinckley & Rugby Building Society, which lends throughout England & Wales, has launched a new two year fixed rate mortgage for home buyers with only a five per cent deposit.

The new mortgage, available up to 95 per cent loan to value (LTV), charges 4.89 per cent for the first two years. It has an overall cost for comparison of 5.6 per cent APR.

The two year fix has competitive fees – £295 for arrangement and £695 on completion. There is a free valuation on properties valued under £1 million and, like all Hinckley & Rugby mortgages, there are no Early Repayment Charges (ERCs).

Also today, Hinckley & Rugby has cut the interest rate on its three year fix available at up to 80 per cent LTV, which is down from 2.99 per cent to 2.69 per cent. The overall cost for comparison is 4.9 per cent APR. Fees and other terms are unchanged.

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: “The 95 per cent LTV mortgage is designed to appeal to first time buyers and others with a small deposit who seek certainty about repayments. With relatively low fees we are confident this has strong appeal.”

Details of all the Society’s mortgages are at

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Carol M

Member since: 10th July 2012

Shy retiring (!) red-head, working hard to showcase everything great about our town and villages. Loves her son, her man & Bruce Springsteen (but not always in that order!)

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