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Hinckley & Rugby launches new buy-to-let loans

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Hinckley & Rugby Building Society has launched two new buy-to-let mortgages.

The first is an offset loan at 2.98 per cent up to 75 LTV. It has an application fee of £250 and the completion fee is £1,250 and there is a free valuation on properties up to £1m.

The second new mortgage is a 2.55 per cent five-year fixed loan at up to 60 per cent LTV. The application fee is £250 and the completion fee is £999.

There is a scaled valuation fee and early repayment charges step down from five per cent in year one to one per cent in year five.

Hinckley & Rugby head of intermediary sales Carolyn Thornley-Yates says: “Landlords can benefit from our manual approach to underwriting which includes the consideration of personal income to support rental income, and joint borrower/sole proprietor arrangements.”

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