MortgagesNov 26 2015

Coventry cuts intermediary rates

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Coventry cuts intermediary rates

Coventry for Intermediaries has reduced interest rates across its range of residential mortgages at 90 per cent LTV, offering rates for two, three and five-year fixed products.

Key features:
■ 2.85 per cent (reduced from 3.15 per cent) fixed rate until 31.12.17, ERC payable to 31.12.17
■ 3.09 per cent (reduced from 3.49 per cent) fixed rate until 31.12.18, ERC payable to 31.12.18
■ 3.55 per cent (reduced from 3.65 per cent) fixed rate until 31.12.20, ERC payable to 31.12.20
■ No arrangement fee
■ Valuation of up to £670 included
■ Remortgage transfer service available for remortgagors

Adviser View

David Wilson, managing director of Tyne and Wear-based NE Money, said: “Coventry for Intermediaries has provided some decent rates. It’s good to see rates being reviewed, especially at the 90 per cent LTV end, as there is lots of opportunity for those deals.

“Coventry is not offering anything fantastic, but no valuation fee and no transfer fee is a welcome step. Lenders are coming up with competive deals. Among the entire marketplace Coventry’s rates are good.”