Hinckley & Rugby launches larger BTL loan products

Hinckley & Rugby Building Society has launched three new buy-to-let larger loan mortgages designed for experienced landlords looking to purchase or remortgage above £500,000, to a maximum of £1 million.

Products include a 2-year fixed rate at 1.75%, a five-year fixed rate at 2.05% and a two-year discount at 1.39%.

In addition, customers can now access higher maximum loan sizes across core mortgages, enabling them to borrow up to £1 million on its residential range and, as standard, a maximum of £500,000 to 75% on the buy-to-let range.

Additionally, across all core products, the Society has enhanced its maximum Loan to Income (LTI) multiple to x4.49.

Carolyn Thornley-Yates (pictured), head of mortgage proposition and distribution, said: “Over the past 12 months we have seen double-digit growth in house prices, which is leading to customers wanting to borrow more to get onto the property ladder.

“These changes are designed to support customers by offering higher loan amounts and giving them the ability to access lending up to x4.49 LTI across all LTV ranges as standard.”

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