Hinckley & Rugby Building Society has cut the interest rate on its buy-to-let two-year discount mortgage from 4.19% to 3.49%.
The deal is available up to 75% LTV and is a two-year discount of 2.15% off the Society’s basic variable rate for BTL mortgages of 5.64%. The overall cost for comparison is 5.3% APR.
The fees are unchanged, at £250 on application and £1,250 on completion. The completion fee can be added to the loan, as long as the LTV does not exceed 75%. As with all Hinckley & Rugby mortgages, there are no early repayment charges (ERCs).
The mortgage is available through intermediaries and there is a property assessment fee on a sliding scale from £265.
Hinckley & Rugby also offers two-year discount buy-to-let mortgages at up to 60% LTV with interest rates starting at 2.74%.
Business development manager Carolyn Thornley-Yates said: “Cutting the interest below 3.5% on a 75% LTV mortgage makes this product highly competitive. It is backed by our outstanding levels of customer service and individual approach to underwriting.”
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