Coventry Building Society: Cut price mortgages

Monday, 30 November 2009 12:00

Coventry Building Society has slashed interest rates by up to 0.66 per cent on its newly-launched range of mortgages.

Among the deals, available through Coventry Intermediaries, is a two-year fixed-rate residential mortgage with a 3.5 per cent rate.

This is available to buyers who need to borrow up to 50 per cent of their property’s value.

The product comes with a free valuation and free remortgage, and there is a version available for borrowers with a loan-to-value (LTV) of 70 per cent. This has a 3.65 per cent interest rate.

Colin Franklin, sales and marketing director for Coventry, said it had developed the range to boost business for its mortgage brokers.

He added: “We continue to have a strong appetite for growing our mortgage business and expect this new range will be very well received by intermediaries and customers alike.”

A range of buy-to-let mortgages has also been introduced, including an 18-month fixed-rate product with a 4.99 per cent rate and £700 of fees and valuation. It is available for LTVs of 65 per cent.

Also available is a two year tracker for LTVs of 70 per cent, which charges interest at the Bank of England base rate plus 2.09 per cent and comes with a free valuation and free remortgage transfer.

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