Coventry Building Society  

Coventry for Intermediaries introduces new mortgage deals

Coventry for Intermediaries introduces new mortgage deals

Coventry for Intermediaries has launched a range of residential products that include a variety of loan-to-value and fee options.

The residential deals include a 1.84 per cent five year fixed product until the end of this year, a 50 per cent LTV, early repayment charge payable to the  end of 2021 and a £999 product fee.

The other mortgage product includes 3.05 per cent five year fixed rate until the end of 2021 a 90 per cent LTV and ERCs payable to the end of January 2021 with no product fee. 

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Kevin Purvey, director of intermediaries at Coventry for Intermediaries, said: “We are delighted to be launching our lowest ever five year fixed rate at just 1.84 per cent, up to 50 per cent LTV.

"And for clients with a lower deposit, we have a best buy rate of 3.05 per cent, available up to 90 per cent LTV for five years. With no product fee, this is ideal for brokers looking to keep their clients’ initial costs low. 

"Plus, all of our products are application fee free and include a valuation of up to £670," he added.

Last month Coventry for Intermediaries, the adviser arm of Coventry Building Society, cut rates by 0.3 percentage points across its range of five-year buy-to-let fixes for borrowers with a 25 per cent deposit.

Daniel Hegarty, chief executive of Habito, said: "It's great to see the lenders pass on some of the cost savings to the consumer and it is a historically great time to take advantage of some of these deals.

"Five-year fixed products are a really good option for those concerned any future shocks in the market that may come along."

Jane King, independent mortgage adviser at London-based Ash Ridge, said: "Coventry are always 'about there' with their products and this is a very good five-year fixed rate.  

"I particularly like the fact that their fees are low which are important for smaller mortgages as this can sometimes be a deal breaker.  I shall no doubt be making use of the five-year fixed for some clients looking for long term peace of mind."