Hinckley & Rugby for Intermediaries cuts mortgage rates by up to 35bps and improves criteria across the range

30 May 2025

Includes removal of application fees on all core residential products

Hinckley & Rugby for Intermediaries has announced mortgage rate reductions of up to 35 basis points across its entire product range, alongside a series of criteria improvements aimed at helping brokers place more complex cases.

Rate changes to improve affordability

Effective Friday 30th May, more than 30 products have been reduced, including options within the Income Flex range for clients with non-standard income, and Credit Flex for those with historic credit issues but a strong repayment track record.

Products include:

Core residential, two- and five-year fixed rates reduced by up to 0.35%; rates starting from 5.55% up to 90% LTV
Retention, two- and five-year fixed rates reduced by up to 0.16%; rates starting from 5.07% up to 90% LTV
Credit Flex, two- and five-year fixed rates reduced by up to 0.35%; rates starting from 5.89% up to 80% LTV
Income Flex, two- and five-year fixed rates reduced by up to 0.31%; rates starting from 5.85% up to 90% LTV
Buy to Let (BTL) Retention, five-year fixed rates reduced by up to 0.10%; rates starting from 5.39% up to 75% LTV
Visa, two- and five-year fixed rates reduced by up to 0.16%; rates starting from 5.89% up to 90% LTV
Limited Company, five-year fixed rates reduced by 0.06%; rates starting from 5.79% up to 70% LTV

In addition, Hinckley & Rugby has removed the £199 application fee from its Fixed core residential products – a change introduced following direct feedback from brokers.

Criteria enhancements to support more complex cases

These changes are aimed at supporting brokers placing a broader range of cases, including self-employed clients using retained profit, those with variable income such as commission or benefits, and borrowers relying on family support or purchasing through concessionary arrangements. They also support capital raising, debt consolidation, higher income multiples, and interest-only lending in later life.

To help with this, Hinckley & Rugby has introduced a number of criteria enhancements:

Retained profit now accepted on Income Flex, helping limited company directors access finance.
Expanded repayment vehicles for interest-only mortgages, including pension lump sums and stocks and shares ISAs.

Laura Sneddon, Head of Mortgage Sales & Distribution at Hinckley & Rugby for Intermediaries, commented:

“We’ve listened closely to what brokers have been telling us, and these changes are a direct result of that feedback. The application fee on our core range has consistently been raised as a barrier, so we’ve removed it. At the same time, we’ve cut rates across more than 30 products and introduced practical criteria enhancements that reflect the real-life cases brokers are dealing with.

Whether it’s using retained profit, supporting later life borrowers, or increasing flexibility on interest-only lending, we’re committed to making it easier for brokers to place business. These changes aren’t just about pricing, they’re about being more accessible and responsive to the needs of the intermediary market.”

For full product information, visit: https://intermediaries.hrbs.co.uk