Coventry BS has launched a new range of mortgage deals

Wednesday, 04 January 2012 10:55

Coventry Building Society has launched a range of competitive new mortgage deals for first-time buyers and customers looking for the security of a longer fixed rate product.

The Coventry Building Society is offering a five-year fixed rate mortgage at 3.58 per cent interest for those with a loan-to-value ratio of 65 per cent. The product charges a £199 booking fee and an £800 arrangement fee.

The mortgage provider is also offering a Flexx fixed rate product at 3.89 per cent for a five-year fixed rate deal for potential borrowers with a 65 per cent LTV. The same charges apply.

Meanwhile, for first-time buyers with a ten per cent deposit, Coventry Building Society offer a five-year fixed rate deal charging 5.25 per cent for existing members. There is a £199 booking fee but no arrangement fee and successful applicants will receive £500 of IKEA vouchers.

For non-members the rate is 5.49 per cent with a £199 booking fee and an arrangement fee of £300.

Buy-to-let investors are offered a rate of 5.35 per cent for a five-year fixed rate deal if they have a 25 per cent deposit through the Coventry Building Societies Flexx fixed rate deal. A £250 booking fee applies and there is a £999 arrangement fee and no early repayment charges apply.

Colin Franklin, Sales and Marketing Director, Coventry Building Society, said: “We are starting the New Year with some great news for borrowers. We have reduced the rates on our first time buyer products by up to 0.40% so not only will borrowers enjoy piece of mind with low, fixed monthly payments for 5 years, existing members who qualify will also receive £500 of IKEA vouchers to help furnish their new home”.

“People looking to remortgage who also want longer term fixed rates will not be disappointed either. Our new range includes competitive 5 year fixed rates with no ERCs starting from 3.89% – ideal for borrowers looking to take advantage of the current low rates whilst having the flexibility to make unlimited overpayments.”

Find a mortgage that fits your circumstances.