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Rate cuts at H&R and Skipton as Nottingham launches BTL range – round-up

  • 30/01/2020
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Rate cuts at H&R and Skipton as Nottingham launches BTL range – round-up
Skipton Building Society has launched a refreshed residential mortgage range with reductions of up to 0.15 per cent on selected fixed rate products.


The range includes a two-year fix at 1.32 per cent to 60 per cent loan to value (LTV) with a £995 fee for purchase and remortgage and, a fee-free two-year fix at 2.46 per cent to 75 per cent LTV with one per cent cashback.  

It also includes fee-free five-year fixes at 1.99 per cent to 80 per cent LTV for purchase and remortgage, and 2.99 per cent to 95 per cent LTV with a £495 fee for purchase only. 

A fee free seven-year fix is also available at 2.12 per cent to 60 per cent LTV for purchase and remortgage. 

Alex Beavis, Skipton’s head of mortgages, said: “Skipton has been helping people to secure their own homes since 1853 and continues to bring a variety of mortgage options for customers to suit their needs. 

“In today’s ever-changing market, it is important to Skipton that we provide all customers, new and existing, the opportunity to ensure their money and mortgages are in a good place, bringing peace of mind to customers.” 

The new range is available through the Society’s Skipton Direct customer service team, branches and all intermediaries. 


Hinckley and Rugby 

Hinckley & Rugby Building Society has cut the interest rates on three mortgages which are suitable for first-time buyers or those with smaller deposits. 

The mortgages are fee-free with lending at up to 95 per cent LTV.  

One of the mortgages is designed to appeal to buyers who want support from the Bank of Mum & Dad while the Joint Borrower Sole Proprietor products enable family support for buyers. 

A three-year fixed mortgage sees its rate cut from 3.24 per cent to a fee-free market leading 2.88 per cent. After three years there is a discount rate, currently 4.49 per cent, for two years. Early repayment charges (ERCs) step down from three per cent in year one to one per cent in year three. 

A two-year fix Joint Borrower Sole Proprietor product has its rate cut from 3.49 per cent to 3.29 per cent. At the end of the fix there are three years at the discount rate, which is currently 4.49 per cent. ERCs step down from two per cent in year one to one per cent in year two. 

For a five-year fix Joint Borrower Sole Proprietor product, the rate cut is from 3.89 per cent to 3.69 per cent. ERCs step down from five per cent in year one to one per cent in year five. 

Carolyn Thornley-Yates (pictured)head of sales and marketing at Hinckley & Rugby, said: “Fee-free mortgages at such high loan to values help first time buyers manage both their deposit and their budget as they move into their first own home. 

“As we do not have a maximum age at term-end, these mortgages are now an option for all generations within families to back their buyers.” 

All three mortgages feature free property assessments up to a value of £1m. 


The Nottingham 

The Nottingham has returned to the 75 per cent LTV buy-to-let mortgage market with the launch of a range of products. 

The society said it always planned to re-enter the 75 per cent LTV buy-to-let space although it spent 2019 focusing on a number of developments, including cashback, retirement interest-only mortgages and a new broker portal system. 

A year on from its last offering of 75 per cent LTV buy-to-let mortgages, The Nottingham has launched a two-year fixed at 1.69 per cent with £999 fee, a fee-free two-year fixed at 2.09 per cent, a five-year fixed at 2.04 per cent with £1,999 fee and a fee-free five-year fixed at 2.28 per cent. 

The society has also lowered the rate of its existing five-year fixed 65 per cent LTV buy to let product with a fee of £999 from 2.40 per cent to 1.94 per cent and now with a £1,999 fee.  

The Nottingham has also widened its buy-to-let applications to allow for purchases as well as remortgages.  

Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “Our plan was always to return to this space. It’s a key part of our strategy and we are delighted to introduce another range of highly competitive products built around what brokers and their clients want.” 

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