Hinckley & Rugby brings back discounted mortgages

Hinckley & Rugby Building Society has reintroduced two lifetime discount mortgages – including one at 85% LTV.

It is offering a lifetime discount at 3.79% – a discount of 1.85% from the SVR – for up to 85% LTV.  

The overall cost for comparison is 4.0% APR.

The second mortgage reintroduced is up to 75% LTV and charges 3.29% (AER) – a discount of 2.35% from the SVR. The overall cost for comparison is 3.4% APR.

Both mortgages are available with an offset option and require arrangement fees of £195 at 75% LTV and £395 at 85% LTV. Both mortgages have a completion fee of £695.

Chris White, chief executive of Hinckley & Rugby, says: “Lifetime discount mortgages are enduringly popular and the return of these 75% and 85% LTV mortgages will particularly appeal to buyers with those levels of deposit.”