H&R slash discount rates
The 2-year discount at up to 70% loan to value now has an interest rate of 1.69% (was 1.89%). The overall cost for comparison is 4.9 per cent APR.
And the-2 year discount at up to 80% LTV now has an interest rate of 1.85% (was 2.15%). The overall cost for comparison is 5.0% APR. Both mortgages revert to the Society’s SVR after two years, which is currently 5.64%.
The lender has also cut its arrangement fees to £199 and completion fees to £800.
Chris White, Hinckley & Rugby chief executive said: “The reduction to the arrangement fee will be appreciated by buyers. That we do not levy the fee until after the initial assessment is part of our commitment to providing modern mortgages and traditional service.”