Hinckley & Rugby Building Society has announced the introduction of a new residential product that features £500 cashback.
The product is a two-year fix at 90 per cent LTV at 2.55 per cent, and other features include an application fee of £199 and zero fee on completion.
The building society adds that applicants are considered without credit scoring.
Hinckley & Rugby head of sales and marketing Carolyn Thornley-Yates says: “Whether it’s to pay for removal costs or to finance a start on decorating a house to make it your home, buyers will always find a good use for £500 when they move in.
“Our borrowers are free to do whatever they want with the money. They also have the certainty of what their monthly repayments will be for two years, this new cashback mortgage should particularly appeal to first-time buyers after they’ve paid their deposit.”