Cuts have been applied across the mutual's Income Flex, Credit Flex, and buy-to-let products
Hinckley & Rugby Building Society has announced another set of rate reductions across its product range, as part of a spring refresh aimed at better serving the complex needs of homebuyers.
Cuts in interest rates have been applied across the mutual’s Income Flex, Credit Flex, and buy-to-let products, with reductions of up to 0.7%.
The society has also recently introduced two new mortgage products – a 95% loan-to-value (LTV) Income Flex mortgage with a two-year discount rate of 6.45% and a 90% LTV Flex Together (joint borrower sole proprietor) mortgage with a two-year fixed rate of 6.29%.
Hinckley & Rugby said its Flex range is designed to accommodate various borrower requirements, including non-standard incomes and adverse credit histories, as well as arrangements involving family and friends.
“A one-size-fits-all approach to lending fails to meet the challenges faced by today’s homebuyer because many applicants simply do not fit the mould,” said Christopher Holmes, products senior manager at Hinckley & Rugby Building Society.
“We understand that, and we have developed flexible mortgage products that meet their needs. Our spring refresh is part of a process of continual improvement, adapting to the ever-evolving needs of our customers.”
Sneddon, head of mortgage sales at Hinckley & Rugby Building Society commented: “Our Flex mortgages ‘flex’ to meet the client’s individual needs,” “Most lenders want the applicant’s circumstances to fit one of their mortgages, but we’re different because we’re flexible.
“We listen and do everything we can to make one of our mortgages fit the applicant’s circumstances. As a manual underwriter, we have the flexibility and the will to get to that hard-to-find ‘yes’.”
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