Hinckley & Rugby Building Society has launched a new cashback mortgage with no completion fee.
The new residential mortgage is a two-year fix which gives the borrower £500 cashback. There is a £199 application fee but zero fee on completion.
The fixed interest rate is 2.55% and the mortgage is available at up to 90% loan-to-value (LTV) with an annual percentage rate of 5.1%.
It marks the first time Hinckley & Rugby has offered a cashback mortgage this century and provides a tax-free £500 when the house purchase is complete.
“Whether it’s to pay for removal costs or to finance a start on decorating a house to make it your home, buyers will always find a good use for £500 when they move in,” said Carolyn Thornley-Yates, head of sales and marketing at Hinckley & Rugby.
“Our borrowers are free to do whatever they want with the money. And because they also have the certainty of what their monthly repayments will be for two years, this new cashback mortgage should particularly appeal to first-time buyers after they’ve paid their deposit.”
She said that applicants and their broker, if they are using one, will also benefit from Hinckley’s one-to-one service and its manual underwriting which considered the circumstances of each applicant without credit scoring.
Hinckley & Rugby Building Society has launched two new residential mortgages...
Hinckley & Rugby Building Society added more than £50 million to...
Hinckley & Rugby Building Society has cut the interest rates on...
The annual results published by Hinckley & Rugby Building Society has...
Landlords with standard buy-to-let properties will lose money when interest rates...
NatWest Intermediary Solutions is cutting rates on a number of its...
As many as four million 18-39 year olds are actively trying...
The Treasury has recently proposed that a new type of Isa...
Lenders must say what they mean and mean what they say!...
Historically second charge mortgages or secured loans as they are also...
The National Association of Commercial Finance Brokers (NACFB) is holding an...
The Bank of England has signalled that more than one interest...
An analysis of government house price data by business consultancy Hargreaves...
Recent economic data was reassuringly predictable. We learned that core inflation fell...
Shared ownership has failed to deliver an affordable route to home...
There’s been a huge rise in the number of buy to...
Homes Under The Hammer property expert Lucy Alexander is fronting a...
Who are you? I’m the Director of Sales for both...
Who are you? Edward Trustworth, 23 What does it say on...
This week, SearchFlow launches it new brand. Group Marketing...
Join the conversation
Be the first to comment (please use the comment box below)
Please login to comment