Hinckley & Rugby for Intermediaries has expanded its remortgage offering with the launch of two new products, both designed with borrower flexibility in mind.
Available at up to 80% loan-to-value (LTV), the new 2-year discounted variable rate mortgages come with no early repayment charges (ERCs), allowing customers to make overpayments or switch products without penalty.
The new products include a 5.65% variable rate remortgage at a 1.64% discount off the Society’s Homeowner Variable Rate under the Core range, and a 5.99% variable rate at a 1.30% discount under the Credit Flex range. Each carries a £999 non-refundable product fee.
Hinckley & Rugby said these ERC-free products are well suited to borrowers who anticipate changes in their financial circumstances or who may wish to respond to shifts in interest rates.
In addition, the Society has extended its fee-assisted remortgage offering in partnership with PEXA and Optima Legal.
The technology-led remortgage process offers real-time updates through an online case tracking portal, now available to the whole market.
Laura Sneddon, head of mortgage sales & 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.”
