Hinckley & Rugby Building Society has launched three fixed-rate residential mortgages and cut the interest rate on an existing fix.
One mortgage is a two-year fix rate at up to 85 per cent loan-to-value with an interest rate of 2.85 per cent and no early repayment charge. The overall cost for comparison is 5.2 per cent APR.
There is also a five-year fix at up to 90 per cent LTV charging 4.75 per cent with an overall cost for comparison of 5.4 per cent APR, and a five-year fix at up to 85 per cent LTV charging 3.99 per cent and overall cost for comparison 5.0 per cent APR.
Chris White, chief executive of the society, said: “Fixed rates are proving attractive to many customers, and these new mortgages and the rate cut keep our range highly competitive and delivered with our outstanding customer service levels.”
Adviser View
Blair Cann, senior partner at Hertfordshire-based M Thurlow, said: “The rates are competitive and I would recommend them in some instances. Hinckley & Rugby aims to be a player. The rates are there, but how good is service?”
