The mortgage, available exclusively through London & Country, is a 2.65% term discount off the society’s basic variable rate which is currently 5.64%.
The offset facility reduces the capital balance when savings are deposited.
The mortgage comes with a free valuation, a £250 arrangement fee and a £1,999 completion fee which can be added to the loan as long as the LTV does not exceed 75% or the loan does not exceed £300,000.
Carolyn Thornley-Yates (pictured), Hinckley & Rugby’s head of intermediary sales, said: “We have long brought the benefits of offsetting to our residential customers. Now buy-to-let landlords can also enjoy the advantages of tax efficiency and less interest charges through this innovative mortgage.”
David Hollingworth, associate director at London & Country, said an offset account associated with the property was a great way for landlords to build funds for repairs or rental voids.
“It was very popular before the credit crunch so we’re delighted to have this product,” he added.
