Hinckley and Rugby Building Society has updated its product and criteria, the details are below. These products are available through our direct to lender mortgage club so contact us for more information on how our club can support your business.
Exciting news – improving affordability just got easier!
We are about to return to the 95% Joint Borrower Sole Proprietor (JBSP) market.
Our products may be able to help your clients improve their affordability and get onto the property ladder.
Over the past few months, we have continued to see a strong demand for higher LTV mortgages, especially now that house prices are rising. So, to help your clients who have smaller deposits, we have introduced two brand new JBSP fixed rate deals that are available up to 95% LTV and come with a free valuation.
Launching today, 28 October, are the following products:
- 2 Year Fixed, 3.39%, £199 product fee, no valuation fee
- 5 Year Fixed, 3.79%, £199 product fee, no valuation fee
Criteria restrictions apply, so please contact us using the details below to find out more.
Alongside our new product launch, we’re withdrawing the following mortgage:
- 2 Year Fixed, 3.49%, £999 product fee plus valuation fees (maximum LTV 90%)
What is JBSP and how exactly can it help your clients?
If you’re new to it, then let us give you some more information.
Our JBSP mortgages allow a family member to join the mortgage, without being named on the title deeds, so that the main applicant can boost their income. This helps improve affordability, meaning their application is more likely to be successful.
This mortgage type can also be combined with our Tailored Term element, which allows the loan to be split over separate time frames, which could lead to lower monthly payments.