Hinckley & Rugby Building Society has announced that, as of 1 February 2022, it will be cutting the rates on many of its Buy to Let products from its core and niche product ranges.
It is expected the repricing will be welcomed by landlords, particularly those coming to the end of fixed rate deals, as Hinckley & Rugby Building Society Product & Proposition Manager, Chris Holmes explained:
“The Buy to Let market is not showing any sign of slowing down, with the expectation that the market will see a large increase in remortgage demand in the coming months as landlords come to the end of five-year fixed rate deals taken out in 2017.
“The significant cuts to our Buy to Let rates have been designed to offer good value for landlords coming to the end of current deals.”
The new rates are as follows:
Buy to Let Core
2 Year Discount 1.55% up to 60% LTV
2 Year Discount 1.70% up to 75% LTV
2 Year Fixed 2.10% up to 75% LTV
5 Year Fixed 2.59% up to 75% LTV
5 Year Fixed 2.50% up to 60% LTV
Buy to Let Niche Including Joint Borrower Sole Proprietor, Later Life, Non-Owner & Top Slicing
2 Year Discount 2.10% up to 75% LTV
2 Year Fixed 2.60% up to 75% LTV
5 Year Fixed 3.05% up to 75% LTV (not including Top Slicing)
Information on Hinckley & Rugby Building Society’s mortgage product ranges, can be found here.