Hinckley & Rugby for Intermediaries has launched a two-year discounted remortgage product at 4.81%.
The product, which is available up to 80% loan-to-value (LTV), includes a £250 legal contribution, no booking fee, and £999 arrangement fee.
It is available for remortgage cases only, with standard early repayment charges of 2% in year one and 1% in year two.
Originally priced at 5.06%, the rate was reduced to 4.81% following a cut to the Society’s standard variable rate (SVR), which took effect on 1 July.
Hinckley & Rugby for Intermediaries head of mortgage sales and distribution Laura Sneddon says: “This new discounted remortgage product is designed to give brokers a simple, good-value option for clients looking to switch deals.”
“With no booking fee, a £250 legal contribution and a strong rate, it helps reduce upfront costs and makes the process that bit easier.”
The launch of the discounted remortgage product follows the completion of what it said to be the UK’s first fully digital property purchase announced last month, using PEXA’s platform, with Hinckley & Rugby as the lender.
