Coventry unveils barrage of new mortgage products

Friday, 04, Jan 2008 12:22

Coventry Intermediaries has launched a range of new mortgages which include a variable product and two trackers.

The new Offset mortgage range also includes a 5.49 per cent fixed-rate deal which runs until March 31st 2010 and is being hailed by the provider as "highly competitive".

Meanwhile the variable "Flexx" product and the tracker mortgages have been introduced as part of Coventry's standard residential range.

Among the two fixed-rate deals is a 5.89 per cent deal which runs until March 31st 2013, it has a loan to value (LTV) of up 95 per cent and includes no booking or arrangement fee and free valuation. Early repayment charges (ERCs) stand at four per cent of the balance repaid until March 31st 2013.

The Flexx mortgage has a current applied rate of 6.10 per cent, has an LTV of 95 per cent and comes with a booking fee of £199 and an £800 arrangement fee. There is no ERC.

There are also two tracker products which offer 0.49 per cent and 0.95 per cent above the Bank of England's base rate until 31st March 2010. The former has a current applied rate of 5.99 per cent, a £199 per cent booking fee and £800 arrangement fee.

The 0.95 per cent tracker has a current applied rate of 6.45 per cent and no booking or arrangement fee. With both trackers, ERCs stand at four per cent until March 31st 2010.