The new 95% loan to value product is being marketed through the estate agency networks of the Connells Group and Arun Estates.
Carolyn Thornley-Yates, business development manager at the Hinckley & Rugby, said: “Unlike many other products at 95% LTV this exclusive does not require any sort of parental involvement or guarantee.”
The product is available for purchases and like-for-like remortgages offers a discount of 0.35% off the Society’s Standard Variable Rate which is currently 5.64%. The overall cost for comparison is 5.7% APR.
Karen Faulkner, mortgage services development manager at Connells Group, said: “Connells Group Mortgage Services is committed to providing customers with a range of innovative products so I am delighted to be launching this 95% mortgage from Hinckley & Rugby Building Society.
“It presents a fantastic opportunity for our customers and is an endorsement to our long standing relationship with Hinckley & Rugby Building Society.”
Thornley-Yates added: “Our relationship with Connells spans the last two decades and they have provided us with high levels of good quality applications over the years, so we expect this exclusive to be very popular.”
