Rate cut pushes 5-yr fixed mortgage into charts | Product News - Moneyfacts

Product News

Rate cut pushes 5-yr fixed mortgage into charts

Rate cut pushes 5-yr fixed mortgage into charts

Category: Mortgages
Date: 06/05/2016

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 It is now over 6 months old so the content may be out of date.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 the rate on its five-year fixed mortgage by 0.20%, catapulting it straight into the charts and earning it the top accolade as a result.

The basics…

This deal now has a fixed rate of 2.59% for five years, the lowest rate currently available for its terms. It is offered at a loan-to-value (LTV) of 85% and has a fee of £999.

The finer details…

All borrowers with a deposit of 15% are welcome to apply for this deal, which is also accompanied by an enticing incentive package of free valuation for all applicants and free legal fees for those who are looking to remortgage. Borrowers will also get the opportunity to make regular or lump sum overpayments, which gives them some additional repayment flexibility.

Why we like it…

This rate decrease has really given this deal a boost: it now sits comfortably in the charts and boasts the lowest rate in its sector, features that are sure to reel in eager borrowers. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.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