Hinckley and Rugby Building Society

Hinckley and Rugby Building Society was created in 1983 as a result of a merger between Hinckley Permanent Building Society and Rugby Provident Building Society both of which can trace their roots back to the mid nineteenth century. It is an independent and mutual organisation, and is committed to remain as such. It has£630 million in total assets, over 80,000 investors and in excess of 9,000 borrowers. Hinckley and Rugby have 12 branches and 5 agencies and have presence in most of the larger towns and cities of the East Midlands.

Hinckley and Rugby Building Society mortgage products are available only in England and Wales. It offers:

• Flexible Mortgage
• Flexible Offset
• Standard Variable Rate
  

Flexible Mortgage: your rate is variable and it will be set above the Bank of England base rate for no more than 0.95% higher for the whole mortgage term. If the Bank of England base rate changes then your rate will change within a month.

• Interest is calculated daily
• There is no early repayment charge
• This product is flexible, you can make overpayments and you can take payment holidays
• Additional borrowing will be considered
• There is no arrangement or application fee
• There is no higher lending fee
• The loan should not exceed 80% LTV
• There is a free standard admin fee for re-mortgages
• Applicants must be over 23 years old
• This product is portable
  

Flexible Offset: your rate is variable and it will be set above the Bank of England base rate for no more than 0.95% higher for the whole mortgage term. If the Bank of England base rate changes then your rate will change within a month.

• Interest is calculated daily
• There is no early repayment charge
• This product has an offset option you can offset your savings and current account against your mortgage balance so that you only make repayments on the difference
• This product is flexible, you can make overpayments and you can take payment holidays
• Additional borrowing will be considered
• There is no arrangement or application fee
• There is no higher lending charge
• The loan should not exceed 95% LTV
• There is a free standard admin fee for re-mortgages
• Applicants must be over 23 years old
• This product is portable

Standard Variable Rate: your rate is set at the Society's standard variable rate for the whole mortgage term.

• Interest is calculated annually
• There is no early repayment charge
• There is no arrangement or application fee
• For advances over 80% LTV a higher lending charge may apply
• The loan should not exceed 95% LTV
• There is a free standard admin fee for re-mortgages
• Applicants must be over 18 years old
• This product is portable

Hinckley and Rugby Building Society also offer a Flexible Tracker mortgage product:

Flexible Tracker: your rate is set 0.45% above the Bank of England base rate for the whole mortgage period. If the Bank of England base rate changes then your rate will change within a month.

• Interest is calculated daily
• There is no early repayment charge
• This product has an offset option, you can offset your savings and current account against your mortgage balance so that you only make repayments on the difference
• This product is flexible, you can make overpayments and you can take payment holidays
• Additional borrowing will be considered
• There is an arrangement fee
• There is no higher lending charge
• The loan should not exceed 95% LTV
• There is a free standard admin fee for re-mortgages
• Applicants must be over 23 years old
• This product is portable

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