The Hinckley & Rugby Building Society has cut interest rates on three lifetime discount mortgages.
It has taken 10 basis points from the rates on three of its popular mortgages offering discounts off the Standard Variable Rate for the whole term.
The 75% maximum LTV mortgage now has a rate of 3.29%, a discount of 2.35% from the SVR. The overall cost for comparison is 3.4% APR.
The 80% max LTV mortgage now has a rate of 3.39%, a discount of 2.25% from the SVR. The overall cost for comparison is 3.5% APR.
And the 85% max LTV mortgage now has a rate of 3.79%, a discount of 1.85% from the SVR. The overall cost for comparison is 4.0% APR.
The 75% and 80% max LTV mortgages have arrangement fees of £195. The fee for the 85% and 90% LTV mortgages is £395. All four mortgages have a £695 completion fee. All are available as offset mortgages.
Chris White, the Hinckley & Rugby’s chief executive, said: “Thanks to these rate cuts our discount mortgages are even more appealing. We expect them to be very popular.