Product terms include availability up to 65% LTV, a completion fee of £1295 added to the loan within LTV, a booking fee of £399 required upfront and early repayment charges are 3% during year one and 2% during year two. No credit scoring is required and rental is calculated at 135% of pay rate.
Dale Jannels, managing director at AToM, said: “Hinckley & Rugby has delivered a truly competitive buy-to-let product for AToM to exclusively distribute. There are plenty of BTL offerings in the current market, but this one has a reasonable arrangement fee compared to many others and it is not subject to credit scoring. With a 2-year fixed rate of just 3.99% and a manual underwriting review, we have no doubt consumers will like this offering. Hinckley & Rugby have demonstrated a really positive outlook and we are excited to be working with them.”
Carolyn Thornley-Yates, assistant manager for branches & development at Hinckley & Rugby, added: “We are very pleased to have established this new relationship with AToM and to have tailored an exclusive product that will hopefully prove popular in the BTL market. We chose AToM as the distributor of this product as we have a shared ethos of treating customers as individuals, and we are confident that we will work well together to provide an efficient and personal service.”
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