Five-year mortgage enters the best buy charts | Product News - Moneyfacts

Product News

Five-year mortgage enters the best buy charts

Five-year mortgage enters the best buy charts

Category: Mortgages
Date: 25/09/2014

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Hinckley & Rugby Building Society has reduced several fixed rate mortgages in its range. One of the deals to benefit is the five-year deal, which has now secured a place among the Moneyfacts best buys.

The basics…

This mortgage has a competitive rate of 3.48%, fixed for five years. It is available at a loan-to-value (LTV) of 80% and has a £999 fee.

The finer details…

Once the five-year term ends, the rate will revert to an Existing Borrowers Rate of 5.64% for the remainder of the mortgage.

First-time buyers, second-time buyers and remortgagors are all welcome to apply. Applicants can benefit from free valuation fees (on houses up to £1 million), while remortgagors can also receive free legal fees.

Borrowers are given the flexibility to make overpayments, but underpayments and payment holidays are not permitted.

Why we like it…

The rate reduction on this five-year fixed mortgage has given it a definite competitive edge, earning it a place among the Moneyfacts best buys. The incentive package is a generous one while the fee is reasonable, making this deal highly attractive to borrowers with the right deposit.

The highest accolade of five Moneyfacts Stars has been awarded.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
Close