Hinckley & Rugby BS launches BTL limited company mortgages

Michael Lloyd

December 3, 2019

Hinckley & Rugby Building Society has launched three buy-to-let limited company mortgages for the intermediary market.

There is a 2-year discount at 2.99%, a 2-year fix at 3.10% and a 5-year fix priced at 3.55%.

All are available at up to 70% loan-to-value (LTV) and are designed for properties held within special purpose vehicle (SPV) limited companies with up to four shareholders.

Each mortgage has an application fee of £250. The 2-year mortgages come with a £1,250 completion fee while the 5-year fix comes with a £999 fee. Each has a scale valuation fee.

Carolyn Thornley-Yates (pictured), head of sales and marketing at Hinckley & Rugby, said: “We invite all advisers to explore our range of buy-to-let products for limited companies.

“It’s an option for intermediaries and their clients to consider, given the appetite for buy-to-let investment and the tax regime faced by investors.

“By talking to us about their ambitions we can bring our manual underwriting into play for their clients.”

The discount has no ERCs while the 2-year fix has ERCs of 2% during the fixed period. The ERCs for the 5-year fix step down from 5% in year one to 1% in year five.

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