Hinkley & Rugby Leads the Way in Mortgage Rate Cuts
As the mortgage market continues to evolve, Hinkley & Rugby has taken a bold step in reducing interest rates across its product range. This move is a welcome respite for homebuyers and landlords alike, who have been struggling to navigate the challenging landscape of high interest rates.
Mortgage rates have been a major concern for homebuyers and landlords.
The mutual has slashed rates on several products, including Income Flex and Ltd Company Buy-to-Let mortgages. This follows an initial round of rate cuts of up to 0.7% across the society’s range in late April. The latest reductions are a clear indication of Hinkley & Rugby’s commitment to supporting its customers during these uncertain times.
Mortgage applications have been on the rise, despite high interest rates.
In addition to the rate cuts, Hinkley & Rugby has launched two new five-year fixed-rate specialist products at competitive rates. The 95% LTV five-year fixed-rate Flex Together (JBSP) mortgage and the 90% LTV five-year fixed-rate Income Flex mortgage, both at 5.99%, are designed to address consumer uncertainty and affordability. These products are not stress-tested as high as the two-year products they are replacing, making them an attractive option for those seeking stability in a volatile market.
Mortgage brokers have been working tirelessly to find the best deals for their clients.
Laura Sneddon, head of mortgage sales at Hinkley & Rugby, commented, “At a time when landlords are struggling to meet minimum rental requirements due to high interest rates, lowering the rates of our five-year fixed Ltd company products offers a real boost in terms of affordability. Driving down rates at this very challenging time for all homebuyers is essential, and we are proud to be leading the way on this.”
Mortgage rates are expected to continue to fluctuate in the coming months.
As the mortgage market continues to evolve, it’s clear that Hinkley & Rugby is committed to supporting its customers every step of the way. With its latest rate cuts and innovative product launches, the mutual is leading the way in providing affordable and accessible mortgage options for all.
Mortgage applications are expected to rise as interest rates continue to fall.
