Coventry Building Society introduces mortgage rate cuts

Friday, 10 May 2013 08:02


Coventry Building Society (CBS) has introduced tempting rate cuts across a number of its mortgage products, with changes made to its Residential, Offset and Buy-To-Let policies.

The newly-available terms include a number of attractive offers, including a 2.25 per cent on the two-year fixed-rate Two-year Fixed Rate product until June 30th 2015, down from 2.35.

Further cuts have also impacted upon the Flexx for Term offer, which has had its rate cut to 2.35 per cent down from 2.65 per cent. The product can be obtained for a £199 booking fee with an £800 arrangement fee with no ERCs.

However, the most drastic adjustments were made to the BTL, Flexx for Term product, which saw a drop of 0.7 per cent from 3.99 per cent to just 3.29 per cent, available for a £250 booking fee and a £1,749 arrangement fee with no ERCs.

Colin Franklin, sales and marketing director for CBS, was quick to point out that the Flexx for Term range has been the one to benefit primarily from the rate cuts, with three products included in the drastic move.

"Our popular Flexx for Term range has just got even better, as we have cut rates by up to 0.70 per cent," he said. "Borrowers can now enjoy the flexibility of no ERCs and unlimited overpayments, from rates as low as 2.35 per cent."

However, he was also quick to point out the benefits that can be seized by customers looking for a fixed rate, and that all customers are entitled to a number of other benefits by signing up.

"Don't forget, all products include a valuation up to £700 and access to our remortgage transfer service," Mr Franklin said.

The new products are available from today (May 9th) and include products from the Fixed Rate and Flexx for Term range.

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