View more on these topics

Hinckley & Rugby Building Society introduces 7.5 per cent cashback mortgage

Hinckley & Rugby Building Society has introduced the 7.5 per cent cashback mortgage.


Aimed at remortgage and first time buyers, the mortgage has a standard variable rate of 7.64 per cent and a maximum loan to value rate of 75 per cent. The 7.5 per cent cashback is not available for house purchases in Scotland or Northern Ireland.


Like many lenders the Hinckley & Rugby&#39s product comes with free accident sickness and unemployment insurance for six months, which is not conditional on any other insurance being taken out.


For borrowers looking for the most comprehensive cashback, 7.5 per cent is quite high, but Northern Rock offers an 8 per cent cashback mortgage, with a standard variable rate of 7.79 per cent and a maximum loan to value of 90 per cent. When comparing redemption penalties the Hinckley & Rugby mortgage comes out on top, lasting for five years of the loan, as opposed to the Northern Rock product, which has redemption penalties for the first six and a half years.


Recommended

Independent View

Peter Hargreaves is managing director of Hargreaves Lansdown.Let&#39s just suppose we all become disillusioned with the investment industry. Well, it certainly has its share of frustrations and during the summer months, if we allow it to happen, business can be slow.The economy is booming so why don&#39t we go into the business of selling photocopiers? […]

Bullhound enters market with global technology fund

New offshore investment company Bullhound has entered the market with a global technology fund available to websurfing investors.The fund, which allows individuals to run their investments on the internet, is a Luxembourg domiciled SICAV and is aimed at experienced investors. Mainly those who are looking for growth as well as exposure to the technology market.Global […]

IFAs want ABI to clarify stance on polarisation

IFAs are demanding the ABI clarifies its position on polarisation following the revelation in Money Marketing that its last FSA submission advocated white labelling.The ABI says the clause on white labelling was included after lobbying from its members. There was no such clause in the original draft submission sent out to life offices.But providers with […]

Loan aimed at ethical homeowners

Ethical Investment Co-operative is setting up a mortgage with building energy conservation consultancy Thirdwave.EIC and Thirdwave have joined with a panel of building societies, including Skipton, Yorkshire and the Scottish Building Society, to offer the environmentally friendly plan.The ethical mortgage offers new incentives for borrowers to improve their homes and make them more environmentally friendly.The […]

Craig Inches – thoughts on how to preserve capital and generate income in an inflationary environment

In this short video, Craig Inches, head of short rates and cash at Royal London Asset Management, offers his thoughts on how to preserve capital and generate income in an inflationary environment. Watch the video in full The value of investments and the income from them is not guaranteed and may go down as well […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment