Hinckley & Rugby for Intermediaries has launched a two-year discounted remortgage product at 4.81%.
The product, which is on the market as much as 80% loan-to-value (LTV), features a £250 authorized contribution, no reserving payment, and £999 association payment.
It is on the market for remortgage instances solely, with normal early reimbursement prices of two% in 12 months one and 1% in 12 months two.
Originally priced at 5.06%, the speed was decreased to 4.81% following a reduce to the Society’s normal variable fee (SVR), which took impact on 1 July.
Hinckley & Rugby for Intermediaries head of mortgage gross sales and distribution Laura Sneddon says: “This new discounted remortgage product is designed to provide brokers a easy, good-value possibility for purchasers seeking to change offers.”
“With no reserving payment, a £250 authorized contribution and a robust fee, it helps cut back upfront prices and makes the method that bit simpler.”
The launch of the discounted remortgage product follows the completion of what it stated to be the UK’s first absolutely digital property buy introduced final month, utilizing PEXA’s platform, with Hinckley & Rugby because the lender.
