Hinckley & Rugby launches ERC-free remortgage range

Hinckley & Rugby for Intermediaries has launched two new remortgage products at 80% LTV featuring no early repayment charges (ERCs). 

The new additions, available across the Society’s Core and Credit Flex ranges, allow borrowers to make overpayments or switch products without penalties.

The Core two-year discount product features a 5.65% variable rate (1.64% discount off the homeowner variable rate), while the Credit Flex two-year discount is available at a 5.99% variable rate (1.30% discount). Both products come with a £999 product fee. 

The Society says the products offer borrowers greater control over their mortgage arrangements, making them particularly suitable for those who anticipate changes in their financial circumstances or wish to take advantage of future rate adjustments.

In addition to launching these new products, Hinckley & Rugby for Intermediaries has recently expanded its partnership with PEXA and Optima Legal, making its fee-assisted remortgage service available to the whole market.

This partnership allows brokers to access a remortgage process powered by PEXA’s technology and delivered by Optima Legal. Borrowers can use an online case tracking portal, providing real-time updates on their remortgage progress. 

Laura Sneddon (pictured), head of mortgage sales and distribution at Hinckley & Rugby for Intermediaries, commented: “Flexibility is increasingly important for borrowers in today’s market, and we believe these ERC-free remortgage products provide advisers with valuable options to support their clients. The ability to make overpayments or switch products without penalty can be crucial for those whose financial circumstances have the potential to change, offering greater control and peace of mind. By removing ERCs, we’re helping those borrowers who want to stay agile in their mortgage choices without any unnecessary restrictions.”