Hinckley & Rugby for Intermediaries has launched a new 2-year discounted remortgage product, with a reduced rate of 4.81% now in effect.
The product is available up to 80% loan-to-value (LTV) and includes a £250 legal contribution, no booking fee, and a £999 arrangement fee.
It is available exclusively for remortgage cases and includes early repayment charges of 2% in year one and 1% in year two.
The rate was initially priced at 5.06% but was cut to 4.81% following a reduction to the Society’s Standard Variable Rate (SVR), which took effect on 1st July.
The product is supported by Hinckley & Rugby for Intermediaries’ expanded fee-assisted remortgage service, delivered through its partnership with digital property settlement platform PEXA and remortgage law firm Optima Legal.
The lender said the service offers brokers a streamlined remortgage process powered by eConveyancing technology, allowing case tracking online and fewer delays.
The offering builds on the Society’s recent milestone of completing the UK’s first fully digital property purchase using PEXA’s platform.
Laura Sneddon (pictured), head of mortgage sales and distribution at Hinckley & Rugby for Intermediaries, said: “This new discounted remortgage product is designed to give brokers a simple, good-value option for clients looking to switch deals.
“With no booking fee, a £250 legal contribution and a strong rate, it helps reduce upfront costs and makes the process that bit easier.
“We know remortgages can be held up by delays in the legal process, which is frustrating for everyone.
“That’s why we’ve partnered with PEXA and Optima Legal to offer a faster, more transparent way of getting cases over the line. Clients can track their case online, brokers get fewer chasing calls, and the whole application runs more smoothly.”
