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Hinckley & Rugby launches low deposit deals

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Borrowers with as little as a 5% deposit can now access new mortgages from Hinckley & Rugby Building Society.

The lender has launched a new 95% loan-to-value mortgage deal and lowered rates on two of its other low deposit mortgages.

Its new 95% LTV deal is a five-year fix available at 4.79%. The deal comes with a £199 booking fee and a £800 completion fee, both of which can be added to the total loan.

Free valuation is included for properties worth less than £1million and overpayments of up to 10% are allowed in each year of the mortgage deal.

The other new rates on offer at Hinckley & Rugby are:

– The two-year fix at up to 95% LTV is now 3.95% (was 4.29%)

– The five-year fix at up to 90% LTV is now 3.54% (was 3.79%).

All mortgages are available through Hinckley & Rugby branches and via mortgage brokers.

Hinckley & Rugby chief executive Chris White, said he hoped borrowers would approve of the new deals on offer.

“Available direct and through brokers, the new five-year fix is designed to be attractive to first time buyers as well as the wider market,” he said.

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