This applies to a 60% loan-to-value (LTV) mortgage with a £999 fee, which has been reduced from 4.06% to 3.94%.
At 75% LTV, the corresponding product has been lowered by the same amount to 4.08% and the deal at 80% LTV has been trimmed by 0.09% to 4.34%.
Halifax has also made changes to select two-year fixes with no fee and a £1,999 fee.
Some three-year fixed mortgage rates have been reduced too, including the fee-free mortgage, which has gone down from 4.68% to 4.63% at 80% LTV, from 4.71% to 4.66% at 85% LTV and from 5.05% to 5.01% at 90% LTV.
Elsewhere, Halifax has reduced rates of its five-year fixed deals by as much as 0.21%, with the largest reductions applied at 80% LTV. The fee-free product has fallen from 4.59% to 4.38%, and with a £999 fee, this has been cut from 4.48% to 4.27%.
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Hinckley & Rugby for Intermediaries releases ERC-free remortgages
Hinckley & Rugby for Intermediaries has brought out a pair of remortgage products at 80% LTV with no early repayment charges (ERCs).
There is a two-year discount product with a variable rate of 5.65%, which is 1.64% lower than the mutual’s homeowner variable rate.
The Credit Flex option has a variable rate of 5.99%, 1.3% off the Hinckley & Rugby Building Society homeowner variable rate.
Both products come with a £999 non-refundable product fee.
The mutual said removing the ERCs would give borrowers more control over their mortgage arrangements.
This change comes shortly after Hinckley & Rugby for Intermediaries expanded its partnership with Pexa and Optima Legal to make its fee-assisted remortgage service available to the whole market.
Brokers can access the remortgage process powered by Pexa’s technology and delivered through Optima Legal. Borrowers can use an online case tracking portal for real-time updates.
Laura Sneddon, head of mortgage sales and distribution at Hinckley & Rugby for Intermediaries, said: “Flexibility is increasingly important for borrowers in today’s market, and we believe these ERC-free remortgage products provide advisers with valuable options to support their clients. The ability to make overpayments or switch products without penalty can be crucial for those whose financial circumstances have the potential to change, offering greater control and peace of mind.
“By removing ERCs, we’re helping those borrowers who want to stay agile in their mortgage choices without any unnecessary restrictions.”
