New fixed rate mortgages from Coventry

Wed, 02 May 2007

Coventry building society has launched a range of new fixed-rate mortgage loans that offer flexibility as well as certainty to customers. The loan deals are for both residential and specialist mortgages, and could be an attractive option for first-time buyers .

Specialist lending mortgages are set to be available through the company Godiva Mortgages, the specialist lending arm of the Coventry . These mortgage loans include flexible buy to let, self-certification mortgages, and MOREgages.

In the standard residential range, a 10-year fixed rate offset mortgage could attract customers, particularly because early repayment penalties are limited to the first five-year period. Other products released in the range are completely without ERC’s and fees. The range includes a base rate tracker mortgage and a 100 per cent first-time buyer mortgage .

The Head of Sales at the Coventry, Colin Franklin, reportedly commented: "The addition of the new products to our range will offer customers a choice of short and long term rates with flexibility. With a strong possibility of an interest rate rise next week, and at a time when other lenders are withdrawing fixed rate products, we are offering the opportunity for borrowers to benefit from certainty of payments ."
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