Hinckley & Rugby for Intermediaries has confirmed mortgage rate reductions of up to 23 basis points (bps) across its full mortgage product range, including core, fixed, Income flex, Credit Flex and Flex Plus ranges.
The society has made pricing changes designed to give brokers greater flexibility when supporting clients with non-standard income, historic credit issues or complex affordability needs, as well as those seeking competitive options through more mainstream criteria.
Key changes across the range include, for fixed rate products (core):
Five-year fix (80% LTV): reduced by 23bps to 5.39% and five-year fix (90% LTV): reduced by 18bps to 5.64%.
Income Flex (for non-standard income): two-year fix (80% LTV): reduced by 21bps to 5.89%; two-year fix (90% LTV): reduced by 10bps to 6.15%; five-year fix (80% LTV): reduced by 16bps to 5.69%; and five-year fix (90% LTV): reduced by 9bps to 5.90%.
Credit Flex (for borrowers with historic credit issues): two-year fix (80% LTV): reduced by 11bps to 5.99%; five-year fix (80% LTV): reduced by 10bps to 5.79%.
Flex Plus (for complex affordability or specialist needs): two-year fix (80% LTV): reduced by 10bps to 6.15%; two-year fix (90% LTV): reduced by 10bps to 6.30%; five-year fix (80% LTV): reduced by 23bps to 6.22%; and five-year fix (90% LTV): reduced by 23bps to 6.27%.
Alongside its new business changes, Hinckley & Rugby has also amended rates across its full retention range, with reductions of up to 25 basis points now in effect.
Commenting, Hinckley & Rugby head of mortgage sales and distribution Laura Sneddon said:
“Our latest rate changes are designed to give brokers competitive solutions in areas of the market where flexibility is vital. Whether it’s non-standard income, credit complexity or long-term affordability, these products offer strong options for clients who may struggle to access mainstream deals.”
