Consumers may be interested in a new five-year fixed-rate mortgage offering a 5.99 per cent rate at 90 per cent loan-to-value.
The product will be made available by Coventry Building Society from tomorrow (June 7th) and is free from early repayment charges, allowing for unpenalised overpayments to be made.
No arrangement fees are required and customers will only need to pay booking costs of £199.
Sales and marketing director for the society Colin Franklin said: "With uncertainty over when interest rates will move and by how much, a first-time-buyer (FTB) mortgage that provides certainty over five years is the responsible option."
He added the product is likely to appeal to FTBs and will make sure repayments remain at a consistent level regardless of whether rates change in the near future.
Individuals interested in acquiring the product, or any of the firm's other mortgage offerings, are advised to apply online or over the phone.
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