Hinckley & Rugby Building Society has simplified its mortgage offering by merging its Joint Borrower Sole Proprietor (JBSP) and Standard product ranges into a single new core range. 

It claims that this will enhance clarity for brokers and provide more flexibility for borrowers. The relaunch includes six new mortgage products and are designed for first-time buyers who need financial backing from family or friends, borrowers seeking additional affordability support, and clients looking for long-term lending flexibility. 

This change follows Hinckley & Rugby’s previous integration of later life lending criteria into its core offering, reaffirming the Society’s commitment to simplifying mortgage options while maintaining accessibility and flexibility.

New core mortgage products:

•  2-Year Fixed (80% LTV) – with a rate of 6.05%
•  2-Year Fixed (90% LTV) – with a rate of 6.25%

•  2-Year Discount of 2.09% off Hinckley & Rugby’s SVR of 7.54%
•  (80% LTV) – with an initial rate of 5.45%

• 2-Year Discount of 1.89% off Hinckley & Rugby’s SVR of 7.54%
•  (90% LTV) – with an initial rate of 5.65%

• 5-Year Fixed until 30/04/30 (80% LTV) – with a rate of 5.80%
• 5-Year Fixed until 30/04/30 (90% LTV) – with a rate of 5.95%

Key highlights of the updated range include greater flexibility for JBSP arrangements, allowing borrowers to receive financial support from both family and friends, making homeownership more accessible. 

Alongside the new product range, Hinckley & Rugby is also offering Tailored Term, an innovative feature that lets multiple applicants share mortgage costs over different time frames, ideal for JBSP mortgages with a significant age gap. It allows younger applicants to spread repayments over the maximum term while older applicants provide affordability support over a shorter period. Available across all mortgage products at no extra cost, Tailored Term offers a flexible, made-to-measure approach without the need for complex standalone products.

A spokesperson says: “Bringing JBSP into our core mortgage range is all about making things simpler and more accessible for brokers and their clients. It means fewer product silos and a more streamlined way to match borrowers with the right solution—whether that’s first-time buyers, those needing financial support from family or friends, or clients who need a more flexible approach to lending.

“This change reflects the way we’ve always adapted to better serve borrowers, much like when we integrated Later Life lending into our core offering. By keeping things straightforward, brokers can focus on what they do best—advising clients on their homeownership journey.”