The Hinckley & Rugby Building Society has cut the interest rates on its two-year fixed rate mortgage at up to 95% LTV and on a buy-to-let fix at up to 60% LTV.
The generally available two-year fix rate has been cut from 3.85% to 3.45%, with the introducers within the society’s Privileged Partners able to access a rate of 3.29% which has been cut from 3.45%. All other features are unchanged.
The buy-to-let mortgage, a five-year fix, is down from 2.95% to 2.75%. Hinckley & Rugby’s buy-to-let affordability assessment requires an ICR (Interest Coverage Ratio) of 145% at this pay rate rather than at an assumed rate.
Hinckley & Rugby head of intermediary sales Carolyn Thornley-Yates said: “Fixed rate mortgages are perennially popular with customers and their advisers, both for residential loans and for buy-to-let.
“We’ve refined our rates to bring even greater value to our products, all of which are backed by our outstanding customer service and the benefits of our manual underwriting.”