SPECIAL MORTGAGE SCHEME
With effect from 18 August 2022
Available throughout England and Wales
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGES
| Maximum loan to value available: | Fixed for 5 years from completion | Reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR) | The overall cost for comparison is: | |
| 90% | 3.90% fixed | 6.44% variable | 5.5% APRC | |
 |  | Maximum loan: | For details of the maximum loan available for your required loan to value please call our in-house mortgage advisors on 01455 894735. | |
3.90% fixed - 5 Year Fixed Rate Mortgage Products - [5YF - F220]
SPECIAL MORTGAGE SCHEME
With effect from 18 August 2022
Available throughout England and Wales
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGES
| Maximum loan to value available: | Fixed for 5 years from completion | Reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR) | The overall cost for comparison is: | |
| 90% | 3.90% fixed | 6.44% variable | 5.5% APRC | |
Fees payable to Hinckley & Rugby Building Society
(please see "Fees notes" below for further details of these fees and when they are payable)During year 1: 5% of the amount repaid early plus fees
During year 2: 4% of the amount repaid early plus fees
During year 3: 3% of the amount repaid early plus fees
During year 4: 2% of the amount repaid early plus fees
During year 5: 1% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Other fees
Fees notes
| Purchase price or value (Not exceeding) | Purchase application (Property assessment fee) | Remortgage application (Property assessment fee) |
|---|---|---|
| £1,000,000 | Free | Free |
| £1,500,000 | £310 | £310 |
| £2,000,000 | £510 | £510 |
| £2,500,000 | £890 | £890 |
| £3,000,000 | £1,290 | £1,290 |
| £3,500,000 | £1,690 | £1,690 |
| £4,000,000 | £2,090 | £2,090 |
| £4,500,000 | £2,490 | £2,490 |
| £5,000,000 | £2,890 | £2,890 |
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.
Standard features of all Hinckley & Rugby Special Mortgage Schemes
- Available on properties in England and Wales
- Available for house purchase or remortgages. Additional borrowing is available for existing mortgages
- Interest-Only mortgages (up to 60% LTV only) – a Capital Repayment Strategy in the form of equity in a second property owned by the applicants in England or Wales, must be in place for Interest-Only mortgages
Buy to Let properties with adequate equity that is held in a limited company, where the only shareholders are the residential borrower applicants, is an acceptable repayment vehicle
Sale of applicants’ residential security will be considered in the specific circumstance of the property value being £400,000 minimum, LTV being 50% or lower and subject to a review of the credibility of downsizing in the local area - Minimum loan £100,000 (existing members £50,000)
- Minimum term 5 years
- Normal maximum term 40 years, depending on age limits
- Interest calculated on a daily basis
- Applications accepted for advances on private dwelling houses of various types providing they are of Standard Construction
- No tied insurances
- Minimum age for applicants 18
- 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 6 months
- Cashback for remortgages
£250 cashback paid to your nominated bank account within one month of the completion of your mortgage
Representative example
A mortgage of £213,600.00 (a loan of £212,800.00 plus a completion fee of £800 added to the loan) payable over 23 years initially on a fixed rate for five years of 4.10% and then on our Standard Variable Rate of 6.44% for the remaining 18 years would require 60 monthly payments of £1,196.56, followed by 216 monthly payments of £1,429.80.
The total amount payable would be £381,229.40 made up of the loan amount plus interest (£167,030.40), an arrangement fee (£199.00), a legal fee (£250.00) and mortgage exit administration fee (£150.00).
The overall cost for comparison is 5.6% APRC representative.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
| Maximum loan to value available: | Fixed for 5 years from completion | Reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR) | The overall cost for comparison is: | |
| 95% | 4.10% fixed | 6.44% variable | 5.6% APRC | |
| | Maximum loan: | For details of the maximum loan available for your required loan to value please call our in-house mortgage advisors on 01455 894735. | |
4.10% fixed - 5 Year Fixed Rate Mortgage Products - [5YF - F221]
SPECIAL MORTGAGE SCHEME
With effect from 18 August 2022
Available throughout England and Wales
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGES
| Maximum loan to value available: | Fixed for 5 years from completion | Reverting for the rest of the term of the mortgage to Standard Variable Rate (SVR) | The overall cost for comparison is: | |
| 95% | 4.10% fixed | 6.44% variable | 5.6% APRC | |
Fees payable to Hinckley & Rugby Building Society
(please see "Fees notes" below for further details of these fees and when they are payable)During year 1: 5% of the amount repaid early plus fees
During year 2: 4% of the amount repaid early plus fees
During year 3: 3% of the amount repaid early plus fees
During year 4: 2% of the amount repaid early plus fees
During year 5: 1% of the amount repaid early plus fees
This charge is calculated as a percentage of the amount repaid early, excluding any arrears of interest, or other charges. The early repayment charge is payable on any amount that you repay in excess of the monthly payment due on the mortgage.
Other fees
Fees notes
| Purchase price or value (Not exceeding) | Purchase application (Property assessment fee) | Remortgage application (Property assessment fee) |
|---|---|---|
| £1,000,000 | Free | Free |
| £1,500,000 | £310 | £310 |
| £2,000,000 | £510 | £510 |
| £2,500,000 | £890 | £890 |
| £3,000,000 | £1,290 | £1,290 |
| £3,500,000 | £1,690 | £1,690 |
| £4,000,000 | £2,090 | £2,090 |
| £4,500,000 | £2,490 | £2,490 |
| £5,000,000 | £2,890 | £2,890 |
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.
Standard features of all Hinckley & Rugby Special Mortgage Schemes
- Available on properties in England and Wales
- Available for house purchase or remortgages. Additional borrowing is available for existing mortgages
- Interest-Only mortgages (up to 60% LTV only) – a Capital Repayment Strategy in the form of equity in a second property owned by the applicants in England or Wales, must be in place for Interest-Only mortgages
Buy to Let properties with adequate equity that is held in a limited company, where the only shareholders are the residential borrower applicants, is an acceptable repayment vehicle
Sale of applicants’ residential security will be considered in the specific circumstance of the property value being £400,000 minimum, LTV being 50% or lower and subject to a review of the credibility of downsizing in the local area - Minimum loan £100,000 (existing members £50,000)
- Minimum term 5 years
- Normal maximum term 40 years, depending on age limits
- Interest calculated on a daily basis
- Applications accepted for advances on private dwelling houses of various types providing they are of Standard Construction
- No tied insurances
- Minimum age for applicants 18
- 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 6 months
- Cashback for remortgages
£250 cashback paid to your nominated bank account within one month of the completion of your mortgage
Representative example
A mortgage of £213,600.00 (a loan of £212,800.00 plus a completion fee of £800 added to the loan) payable over 23 years initially on a fixed rate for five years of 4.10% and then on our Standard Variable Rate of 6.44% for the remaining 18 years would require 60 monthly payments of £1,196.56, followed by 216 monthly payments of £1,429.80.
The total amount payable would be £381,229.40 made up of the loan amount plus interest (£167,030.40), an arrangement fee (£199.00), a legal fee (£250.00) and mortgage exit administration fee (£150.00).
The overall cost for comparison is 5.6% APRC representative.
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
Representative example
A mortgage of £213,600.00 (a loan of £212,800.00 plus a completion fee of £800 added to the loan) payable over 23 years initially on a fixed rate for five years of 4.10% and then on our Standard Variable Rate of 6.44% for the remaining 18 years would require 60 monthly payments of £1,196.56, followed by 216 monthly payments of £1,429.80.
The total amount payable would be £381,229.40 made up of the loan amount plus interest (£167,030.40), an arrangement fee (£199.00), a legal fee (£250.00) and mortgage exit administration fee (£150.00).
The overall cost for comparison is 5.6% 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