Hinckley & Rugby for Intermediaries has announced mortgage rate reductions of up to 35 basis points across its entire product range, alongside a series of criteria improvements.
More than 30 product rates have been reduced, including options within the Income Flex range for clients with non-standard income, and Credit Flex for those with historic credit issues but a strong repayment track record.
Core residential two and five-year fixed rates have reduced by up to 0.35%, now starting from 5.55% up to 90% LTV.
Retention two and five-year fixed rates are down by up to 0.16%, starting from 5.07% up to 90% LTV.
Credit Flex rates have reduced by up to 0.35%, starting from 5.89% up to 80% LTV, while Income Flex rates are down by up to 0.31%, starting from 5.85% up to 90% LTV.
In addition, buy-to-let five-year fixed retention rates have reduced by up to 0.10%, available from 5.39% up to 75% LTV.
Visa rates have decreased by up to 0.16%, now starting from 5.89% up to 90% LTV, while limited company five-year fixed rates have been trimmed by 0.06% to start from 5.79%.
Criteria updates
Hinckley & Rugby has removed the £199 application fee from its fixed core residential products – a change introduced following direct feedback from brokers.
In addition, retained profit now accepted on Income Flex, helping limited company directors access finance, and the Society has expanded repayment vehicles for interest-only mortgages, including pension lump sums and stocks and shares ISAs.
These changes are aimed at supporting brokers placing a broader range of cases, including self-employed clients using retained profit, those with variable income such as commission or benefits, and borrowers relying on family support or purchasing through concessionary arrangements. They also support capital raising, debt consolidation, higher income multiples, and interest-only lending in later life.
Laura Sneddon (pictured), head of mortgage sales and distribution at Hinckley & Rugby for Intermediaries, commented: “We’ve listened closely to what brokers have been telling us, and these changes are a direct result of that feedback. The application fee on our core range has consistently been raised as a barrier, so we’ve removed it. At the same time, we’ve cut rates across more than 30 products and introduced practical criteria enhancements that reflect the real-life cases brokers are dealing with.
"Whether it’s using retained profit, supporting later life borrowers, or increasing flexibility on interest-only lending, we’re committed to making it easier for brokers to place business. These changes aren’t just about pricing, they’re about being more accessible and responsive to the needs of the intermediary market.”
