Hinkley & Rugby has announced a new series of interest rate cuts.
The mutual has reduced rates on several products including Income Flex and Ltd Company Buy-to-Let mortgages.
These latest cuts follow a first round of interest rate cuts of up to 0.7% across the company’s entire interest rate range in the last week of April.
The mutual has also launched two new specialist five-year fixed rate products at competitive rates. These are a 95% LTV five-year Flex Together (JBSP) fixed rate mortgage at 5.99%, and a 90% LTV five-year Income Flex fixed rate mortgage, also at 5.99%.
Both income-boosting products aim to address consumer uncertainty and affordability, with five-year fixed rate products not being as heavily stressed as the two-year products they replace.
Laura Sneddon, head of mortgage sales at Hinkley & Rugby, commented: “At a time when landlords are also struggling to meet minimum rental requirements due to high interest rates, reducing the rates on our five-year fixed Ltd business products provides a real boost in terms of affordability. Lowering rates at this very challenging time for all homebuyers is essential, and we are proud to be leading the way.”