Hinckley & Rugby launches buy-to-let offset and 5-year fix
Hinckley & Rugby Building Society has launched an offset and fixed rate buy-to-let mortgage.
The offset is a lifetime discount up to 75% loan-to-value charging 2.89% and comes with an application fee of £250 and completion fee is £1,250. There is a free valuation on properties worth up to £1m.
The second new mortgage is a 2.55% 5-year fix to 60% LTV with a completion fee of £999.
There is a scaled valuation fee and ERCs step down from 5% in year one to 1% in year five
Carolyn Thornley-Yates, head of intermediary sales at Hinckley & Rugby, said: “Landlords can benefit from our manual approach to underwriting which includes the consideration of personal income to support rental income, and joint borrower/sole proprietor arrangements.”