Hinckley & Rugby has launched a 95% loan-to-value income booster product with a two-year discount rate of 6.45%.  

The mutual’s offer is part of its Income Flex range, aimed at first-time and ‘first-time-again’ homebuyers who have non-standard or complex incomes.   

“It addresses a common problem of being able to afford repayments but being unable to save a large deposit due to the burden of high rents and other inflated living costs,” the lender says.  

Its Income Flex range offers up to 5.5 times multiple with no minimum income requirement, and is also available to contractors, the self-employed, applicants with commission-only earnings, and those with just one year’s accounts.   

The firm adds that “there is no trade-off with inflated criteria” as borrowers just need to meet its standard affordability criteria.