Hinckley & Rugby Building Society has reintroduced two lifetime discount mortgages.
The first deal to be resurrected is the lifetime discount at 3.79% interest (a discount of 1.85% from the SVR) for up to 85% LTV. The mutual says the overall cost for comparison is 4.0% APR.
The second mortgage reintroduced is at up to 75% LTV and charges 3.29% (AER) (a discount of 2.35% from the SVR). The overall cost for comparison is 3.4% APR.
Both mortgages are available with an offset option and require arrangement fees of £195 at 75% LTV and £395 at 85% LTV.
Both deals come with a completion fee of £695.
Chris White, the Hinckley & Rugby’s chief executive, said: “Lifetime discount mortgages are enduringly popular and the return of these 75% and 85% LTV mortgages will particularly appeal to buyers with those levels of deposit.”
