Launch Pad: Mortgages

Launch Pad: Mortgages

Coventry Intermediaries has launched fee-free options with rates starting from just 1.99 per cent.

The fee free options will be available for residential borrowers looking for two, three or five-year fixed rates at 65 per cent LTV.

Darin Landon, distribution director for Coventry Intermediaries, said: “Available at 65 per cent LTV, our new range is ideal for borrowers looking for the security of a low, fixed rate, while keeping their initial costs down.”

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Key Features:

■ Two-year fixed

1.99% Fixed Rate until 30.06.17, 65% LTV, ERCs payable to 30.06.17 and no arrangement fee.

■ Three-year fixed

2.29% Fixed Rate until 30.06.18, 65% LTV, ERCs payable to 30.06.18 and no arrangement fee.

■ Five-year fixed

2.65% Fixed Rate until 30.06.20, 65% LTV, ERCs payable to 30.06.20 and no arrangement fee.

Adviser view

Martin Stewart, director of London Money, said: “Coventry is usually good when the deal comes to an end but as to comparing rates with other banks it is like trying to chase sand.

“Fee-free deals are a nice to have, but they are not the be-all and end all. Coventry is a good and efficient lender to deal with and understands intermediaries.”