Hinckley & Rugby for Intermediaries has announced a product update, which includes the launch of new income flex products, a new limited company buy-to-let (BTL) option, some selected rate reductions and terms extensions across several core ranges. The society has introduced three new income flex products at 95% LTV which are aimed at borrowers with more complex or varied income profiles, where manual underwriting and flexibility around affordability are required. The products include a two-year discount at 5.59% variable, a two-year fix at 6.50% and a five-year fix at 6.50% at 95% LTV. Alongside this, Hinckley & Rugby has also launched a limited company BTL product, which is priced at 5.40% as a two-year discount at 70% LTV. It comes with a £999 completion fee and a £250 application fee.

United Trust Bank (UTB) has promoted Bradley Illman to head of sales – bridging as the bank looks to further develop its bridging proposition. He joined UTB in 2012 as an underwriter in its bridging division and was instrumental in the creation of its bridging internal sales team. Illman most recently served as key account manager for bridging. In his new role, he will lead the bridging sales team as UTB continues to develop its bridging proposition with substantial technology and process enhancements in progress designed to deliver and more intuitive application to completion journeys for brokers.

Paragon Bank has added six two-year options to its range of bank base rate tracker products, responding to broker feedback and strengthening its BTL mortgage selection. The addition of the two-year products, available at up to 75% LTV, complements its existing range of five-year mortgages aligned to the Bank of England’s base rate (BBR). Rates start from 5.10%, equivalent to BBR plus 1.35% for single self-contained properties, while landlords financing HMOs or MUBs can choose products with rates from 5.45%, BBR plus 1.70% with a £299 application fee. The mortgages are not subject to early repayment charges and landlords can opt for one of three options, from 0.75%, 1% and 1.50%.

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