Coventry Building Society is launching new product additions to its range of residential and buy-to-let mortgages.
Many of the new products have no arrangement fees or early repayment charges and include two and three year products.
The new mortgage products for residential customers include a two-year fixed-rate deal for customers with a loan-to-value (LTV) ratio of 65 per cent that charges 3.05 per cent interest and has no arrangement fee.
For those with a smaller deposit of 20 per cent, the two-year fixed rate mortgage deal charges 3.55 per cent, again with no arrangement fee.
In its buy-to-let range, Coventry Building Society has launched its Flexx BBR Tracker products. The rate tracks base rate (currently at 0.5 per cent) plus 2.99 per cent. This rate is capped at a top level of 4.49 per cent until the end of 2013 to guard against dramatic rises in the Bank of England’s base rate. It is available to customers with an LTV of 65 per cent and there are no early repayment charges.
Colin Franklin, Sales and Marketing Director at Coventry Building Society, said: “Many homeowners are on SVRs between 3% – 4% and wondering what to do for the best. Our new range offers them the ability to move to a similar, often lower, fixed rate for only £199 with a valuation and legal package included for remortgagors.”
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