The rate on the 80% loan to value 2-year discount mortgage has been cut to 2.45% from 2.65%. The rate is a 3.19% discount off the society’s standard variable rate. The overall cost for comparison is 5.1%.
The rate on the 80% LTV 2-year fixed rate mortgage has been cut to 2.59% from 2.75%. The overall cost for comparison is 5.1%.
Fees for both mortgages are unchanged at £295 for arrangement and £695 for completion.
There is also a new 2-year discount mortgage at up to 85% LTV, charging 3.09%. The fees are £295 for arrangement and £695 for completion. The overall cost for comparison is 5.2%.
And a new lifetime discount mortgage, also at up to 85% is available at 3.49%. The overall cost for comparison is 3.6%.
Chris White, Hinckley & Rugby chief executive, said: “The new mortgages and reduced rates are very attractive. We expect them to be popular with buyers and those remortgaging.”
