Hinckley & Rugby Building Society has launched a 90% 2-year fix residential mortgage at 2.55% with a £500 cashback.
There is a £199 application fee but zero fee on completion. It’s the first time Hinckley & Rugby has offered a cashback mortgage this century and it provides a tax-free £500 when the house purchase completes.
Carolyn Thornley-Yates, Hinckley & Rugby’s head of sales and marketing, said: “Whether it’s to pay for removal costs or to finance a start on decorating a house to make it your home, buyers will always find a good use for £500 when they move in.
“Our borrowers are free to do whatever they want with the money. And because they also have the certainty of what their monthly repayments will be for two years, this new cashback mortgage should particularly appeal to first time buyers after they’ve paid their deposit.
“Applicants, and their broker, if they are using one, will also benefit from our traditional levels of one-to-one service and our manual underwriting which considers the circumstances of each applicant without credit scoring.”