Message from Hinckley and Rugby
Here at Hinckley & Rugby we recognise that lending via intermediaries is crucial to the achievement of our business objectives. The feedback you provide to us both pre- and post- application is important to us, and is used when we review our service standards and processes.
Taking into account your suggestions concerning our lending policy, and so that more of your clients can benefit from our individual approach to underwriting and personalised service, we have made the following changes with immediate effect. Full details can be found in our ‘Guide to Terms and Underwriting Criteria’ document – please click to view.
- An increase of £25,000 to many of our maximum loan sizes. New values include increases to our 95%, 90%, 85% and 80% LTV range, which now stand at £275,000, £300,000, £325,000 and £375,000 respectively
- An increase to our standard maximum mortgage term, from 30 to 35 years
- An increase to our maximum age at the end of the mortgage term, from 70 to 75
- A reduction in the minimum period in employment, from 6 months to 3 months
- A reduction in the minimum period of residency in the UK and number of years of electoral register history required, from 5 to 3 years
More changes are on their way and we will let you know about these in the near future.
Please also note that with effect from close of business this Friday, 2nd October, we will no longer be accepting applications for Let to Buy mortgages. Please ensure that any pending applications are submitted by 5pm on Friday, along with all supporting documents.
