Hinckley & Rugby launches larger loan products

Jake Carter

November 24, 2021

launch products

Hinckley & Rugby Building Society has launched three buy-to-let (BTL) larger loan mortgages.

The products have been designed for experienced landlords looking to purchase or remortgage above £500,000, to a maximum of £1m.

Products include a 2-year fixed rate at 1.75%, a 5-year fixed rate at 2.05% and a 2-year discount at 1.39%.

Higher maximum loan sizes across core mortgages are also now available, enabling customers to borrow up to £1m on its residential range and, as standard, a maximum of £500,000 to 75% on the BTL range.

Across all core products, Hinckley & Rugby has enhanced its maximum loan-to-income (LTI) multiple to 4.49.

Carolyn Thornley-Yates, head of mortgage proposition and distribution at Hinckley & Rugby Building Society, said: “Over the past 12 months we have seen double-digit growth in house prices, which is leading to customers wanting to borrow more to get onto the property ladder.

“These changes are designed to support customers by offering higher loan amounts and giving them the ability to access lending up to x4.49 LTI across all LTV ranges as standard.”

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