Coventry BS launch low-fee mortgage range

The Coventry Building Society has launched a new range of low-fee mortgages.

Rates start at just 3.10 per cent for its two-year tracker. This deal is available to those with a 35 per cent deposit and the booking fee is just £199 with no arrangement fee. It charges the bank of England base rate plus 2.60 per cent.

The same deal is available to borrowers with a loan-to-value (LTV) ratio of 80 per cent but borrowers are charges 3.47 per cent, base rate, plus 2.97 per cent.

For homeowners looking for a long-term fix, the Coventry has announced a five-year fixed rate deal at 3.55 per cent for those with an LTV of 65 per cent. Total fees are just £199.

The same deal is available at the lower rate of 3.35 per cent put comes with an additional arrangement fee of £800, taking the total fees to £999.

In addition the building society has launched an Offset Flexx for Term Mortgage at 4.35 per cent for borrowers with a 35 per cent deposit. The fee is just £199. Alternatively applicants can opt to pay an additional booking fee of £800 to take advantage of a rate of just 4.10 per cent.

Colin Franklin, Sales and Marketing Director, Coventry Building Society, said: "We have created a range of mortgages which offer a great choice of variable and fixed rates to include loans up to 80% LTV.

“Borrowers can choose a fee structure which suits them and, in addition, benefit from our remortgage transfer service and a valuation up to the value of £670."