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Cashback is back in a Hinckley & Rugby mortgage

Hinckley & Rugby Building Society has launched a new cashback mortgage with no completion fee.

The new residential mortgage is a two-year fix which gives the borrower £500 cashback. There is a £199 application fee but zero fee on completion. The fixed interest rate is 2.55 per cent and the mortgage is available at up to 90 per cent LTV. The APR for comparison is 5.1 per cent.

It’s the first time Hinckley & Rugby has offered a cashback mortgage this century and it provides a tax-free £500 when the house purchase completes.

Hinckley & Rugby head of sales and marketing Carolyn Thornley-Yates said:

“Whether it’s to pay for removal costs or to finance a start on decorating a house to make it your home, buyers will always find a good use for £500 when they move in.

“Our borrowers are free to do whatever they want with the money. And because they also have the certainty of what their monthly repayments will be for two years, this new cashback mortgage should particularly appeal to first time buyers after they’ve paid their deposit.

“Applicants, and their broker, if they are using one, will also benefit from our traditional levels of one-to-one service and our manual underwriting which considers the circumstances of each applicant without credit scoring.”

Details of the mortgage are at: hrbs.co.uk/mortgages/cashback-mortgages/


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