Hinckley & Rugby Building Society has cut the interest rates on two of its two-year discount mortgages, including one at 90% LTV (loan-to-value).
The 90% max LTV mortgage is reduced from 4.85% to 4.64%, offering a discount of 1.00% off the SVR. The overall cost for comparison is 5.6% APR. The arrangement fee has also been cut, from £395 to £295.
The 80% max LTV mortgage is reduced from 3.45% to 3.24%, a discount of 2.40% off the SVR. The overall cost for comparison is 5.2% APR. And £100 has been cut from the completion fee, which is now £695.
The two mortgages are part of Hinckley & Rugby’s range of mortgages that also includes fee-free, lifetime discounts and lifetime trackers.
Chris White, Hinckley & Rugby chief executive, said: “By cutting the cost of borrowing we aim to make our mortgages even more attractive. And all our customers receive outstanding service, as it should be.”