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Mortgageforce offers exclusive building society deals

Hinckley and Rugby Building Society has teamed up with brokerage mortgageforce to launch its current range of mortgage products.

The arrangement gives mortgageforce exclusive intermediary access to Hinckley and Rugby’s two-year discount mortgage products.

The products offer an initial interest rate of only 3.95% for loans up to 85% LTV or 3.45% for loans up to 80% LTV with no ERCs.

They include a 1.69% discount for two years off SVR, currently 5.64%, to give an interest rate of 3.95% (5.4% APR Variable) at 85% LTV.

A 2.19% discount for two years off SVR, currently 5.64%, to give an interest rate of 3.45% (5.3% APR Variable) at 80% LTV and a £250 arrangement fee.

Stewart Heeley, marketing manager for Hinckley and Rugby Building Society, says: “mortgageforce has forged an excellent reputation for developing long-term partnerships and this, together with their nationwide adviser coverage, makes for an exciting relationship that will add value to both businesses.”

Chris Steel, head of operations and affinity partnerships for mortgageforce, says: “Hinckley and Rugby has built its reputation on the quality of its personal service and is a well run and financially strong building society. Its careful approach to mortgage lending, together with a track record of providing excellent mortgage products, makes this a partnership we are delighted with.”

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  • Katie Tucker 14th April 2010 at 9:17 am

    Blimey, cracking rate at 85% LTV! Mortgageforce brokers: make hay!

  • Ketan Yadav - Avenue & Co Private Finance 13th April 2010 at 4:45 pm

    Its very clear that lenders must realise very soon that mortgage brokers as a distribution channel are a veryy effective way of increasing market share. Having more branches is not profitable. I am still amazed at the number of lenders dual pricing.

    Offer the same rates to brokers as well – that way you cover all angles of distribution – at a lower cost.

    Brokers are frustrated as they feel they have introduced alot of new clients to lenders – without support.

    All you have to do is look at Barclays Woolwich and Santander (Abbey) to see why these lenders are still supporting brokers – and getting results.