2 Year Fixed Rate Mortgages

2 Year Fixed mortgages from Hinckley and Rugby Building Society

SPECIAL MORTGAGE SCHEME

With effect from 15  April 2016

Available throughout England and Wales

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Maximum loan to value available:Fixed for 2 years from date of completionReverts to 1.65% discount off SVR for the next 3 yearsThen reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR)The overall cost for comparison is:
80%2.19% fixed3.99% variable5.64%
variable
4.6% APRC
Enquire about this 2.19% fixed rateMaximum loan:For details of the maximum loan available for your required loan to value please call our Mortgage Department on 01455 894082.
Maximum loan to value available:Fixed for 2 years from date of completionReverts to 1.65% discount off SVR for the next 3 yearsThen reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR)The overall cost for comparison is:
90%2.24% fixed3.99% variable5.64%
variable
4.7% APRC
Enquire about this 2.24% fixed rateMaximum loan:For details of the maximum loan available for your required loan to value please call our Mortgage Department on 01455 894082.
Maximum loan to value available:Fixed for 2 years from date of completionReverts to 1.65% discount off SVR for the next 3 yearsThen reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR)The overall cost for comparison is:
95%3.85% fixed*3.99% variable5.64%
variable
5.1% APRC
Enquire about this 3.85% fixed* rateMaximum loan:For details of the maximum loan available for your required loan to value please call our Mortgage Department on 01455 894082.

* Please note this 95% LTV product is not available for new build properties

Fees Payable

  • Arrangement fees (non-refundable) – must be paid at time of submitting mortgage application and will be debited only after passing an initial assessment : £199
  • Property assessment fee (non-refundable after property assessment carried out for the Society): see scale below
  • Completion fees (non-refundable) – this fee can be paid before the start of the mortgage or you can elect to add this to the mortgage loan and it will be deducted from the mortgage advance on completion: £800.
    Payment calculations and interest charges will be affected by fees that are added to the loan on completion. If preferred, completion fees that have been added to the loan may be repaid by a separate capital payment at any time after the start of the mortgage and this will result in lower monthly payments and reduced interest charges.
    * No completion fee.
  • Mortgage exit administration fee on redemption of mortgage: currently £150
  • Higher lending charge (applicable over 80% loan to value only) paid by the Society
  • No early repayment charges

Purchase Price or Value
(not exceeding)
Purchase Application
(property assessment fee)
Remortgage Application
(property assessment fee)
£200,000£245-
£300,000£295-
£400,000£355-
£500,000£430-
£600,000£465-
£700,000£535-
£800,000£595-
£900,000£655-
£1,000,000£725-
£1,500,000£1,035£1,035
£2,000,000£1,235£1,235

For a price or value exceeding £2 million, please contact the Society for further details.

If a property assessment fee is payable, this must be paid at the time of submitting a mortgage application.

All fees shown represent the cost of the property assessment to the Society plus an administration fee of £35 to cover the Society’s own costs of arranging the property assessment and assessing the report when it is received.  If a reinspection is required, for example for new build and self build properties, a charge of £75 will be made.

Standard features of this Hinckley & Rugby Special Mortgage Scheme

  • Available on properties in England and Wales
  • Available for capital and repayment mortgages only
  • Minimum loan £75,000 (£50,000 for existing members)
  • Minimum term 5 years
  • Free standard administration fee for remortgages – see note below*
  • Interest calculated on a daily basis
  • No tied insurances
  • Minimum age for applicants 21
  • Portable up to the existing mortgage balance
  • Tariff of charges during the life of any mortgage available on request
  • For remortgages, the property must have been owned by the applicants for a minimum of twelve months

* Free standard administration fee for remortgages. As long as the property is already registered at HM Land Registry in the same name(s) as the mortgage applicant(s), the Society will arrange for the new Legal Charge to be registered in the name of the Society. You will be advised of any additional administrative or insurance charges, which you will be required to pay.

 


Representative example

A mortgage of £168,040 (a loan of £167,240 plus a completion fee of £800.00 added to the loan) payable over 24 years initially on a fixed rate for two years of 2.90%, then on a discounted variable rate of 3.99% for the next three years and then on our Standard Variable Rate of 5.64% for the remaining 19 years would require 24 monthly payments of £810.56, followed by 36 monthly payments of £900.37 and 228 monthly payments of £1,028.84.

The total amount payable would be £287,337.03 made up of the loan amount plus interest (£118,403.03), an arrangement fee (£199.00), a legal fee (£250.00), a mortgage exit administration fee (£150.00) and valuation fee (£295.00).

The overall cost for comparison is 5.2% APRC representative.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

Mortgage type

This product belongs to the following type of mortgages:
Fixed Rate Mortgages