Hinckley & Rugby Building Society has cut the interest rates on three of its 95% loan-to-value (LTV) residential mortgage products.

Its five-year fixed rate mortgage sees its charging rate fall from 3.75% to 3.49%, while its two-year fix is now charging 3.09%, down from 3.19%.

The Society’s two-year discount, which previously charged 3.34%, is now just 2.99%. All the other features of the three mortgage products remain unchanged.

“Whether your client is a first-time buyer, remortgaging or moving up the ladder, a 95% LTV product can be just what they are looking for,” said Carolyn Thornley-Yates, head of sales and marketing at Hinckley & Rugby.

She said that by cutting these rates, the Society can now offer even greater value among the options for borrowers with smaller deposits.

“Applications which mainstream lenders might reject out of hand can be referred to the daily meetings of our senior decision makers who look at applications in the round,” she added.