Coventry: New buy-to-let mortgages

Tuesday, 06 January 2009 12:00

Coventry Building Society has unveiled two new buy-to-let mortgages with fixed rates of 5.49 per cent and 5.99 per cent.

The new products, which are being launched by Coventry's lending subsidiary Godiva Mortgages, both come with £250 booking fees and a £1,749 arrangement fee.

The 5.49 per cent rate is for people looking for loan-to-values (LTV) of up to 50 per cent. The fixed rate is available until March 31st 2012 and there is an early repayment charge (ERC) of four per cent.

Borrowers looking for a slightly higher LTV of up to 65 per cent can opt for the 5.99 per cent fixed rate, which is also available until March 31st 2012. This also has an ERC of four per cent.

Both products come with free valuation and free legal fees for remortgagers.

Colin Franklin, managing director of Godiva Mortgages, said: "These new buy-to-let fixed are market-leading products.

"They offer a combination of competitive rates with flat fees and I'm sure they will be a popular addition to the buy-to-let market."

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