Club members will be able to access a five-year fixed rate mortgage, available up to 90 per cent loan to value (LTV), at 2.58 per cent with a £199 arrangement fee. The exclusive range also includes a pair of two-year fixed rate mortgages, both available up to 90 per cent LTV and with a £199 arrangement fee.
The first two-year fixed product is priced at 1.8 per cent, but comes with valuation fees, while the other has no valuation fees but borrowers face a rate of two per cent. The valuation fees charged range from £185 to £3,615, depending on the purchase price.
Danny Belton (pictured), head of lender relationships at the L&G Mortgage Club, said that advisers face added pressure to source “competitively priced product options” for their clients given the speculation surrounding a potential base rate increase.
He added: “With this latest raft of exclusives, we expect to help broaden the choice presented to our advice network when placing suitable customer cases. This is certainly a timely and important addition to our proposition and we’re pleased to be offering the discounted products through Hinckley & Rugby Building Society.”
Julie Bourne, intermediary sales manager at Hinckley and Rugby Building Society, emphasised the mutual’s commitment to supporting brokers and their clients, adding: “These products, which are offered up to 90% LTV, will increase the options available to mortgage customers, particularly first time buyers, who want to take the next step as homeowners.”