Mortgages  

Launch Pad: Coventry

Colin Franklin, managing director of Godiva Mortgages, part of Coventry Intermediaries, said: “We have extended the term on all two- and five-year fixed rates by three months, so borrowers can enjoy the security of a great rate for even longer.

“For buy-to-let investors, we have cut rates on selected products, including our popular Flexx for Term option, which has been reduced from 3.79 per cent down to 3.49 per cent.”

New mortgage rates:

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2.15% fixed rate: 65 per cent LTV, £199 booking fee, £800 arrangement fee and early repayment charges (ERCs) payable.

4.29% fixed rate: 90 per cent LTV, £199 booking fee with no arrangement fee and ERCs payable.

2.65% Flexx for term: 75 per cent LTV, £199 booking fee, £800 arrangement fee with no ERCs.

Adviser view:

Andrew Dawson, managing director of Coast To Coast Financial Planning Services, in Truro, said: “As the housing market in the UK improves, in tandem with the economy, we are seeing some better deals come out of the lenders and these rates look to be in line with that general trend.

“I don’t think they are that special, though, especially on the higher LTV, and the fees also do not look especially tempting.”