|
Coventry 'refreshes' mortgage range
20 November 2008 16:49
The intermediary Coventry has unveiled a new range of mortgage products in a bid to help borrowers beat the credit crunch.
From tomorrow (November 21st), the groups 'best buy' rates will include a ten-year offset fixed and a fee free three-year offset fixed, which will be available at a 65 per cent loan-to-value (LTV).
For first time buyers, the firm has a 6.99 per cent fixed-rate package, offering 90 per cent LTV and no arrangement fee.
Colin Franklin, head of sales at the Coventry and managing director Godiva Mortgages, said he was sure that with the combination of offset functionality, free valuation and free legal fees for remortgagers, the deal would prove attractive for many borrowers.
He added that the products offered customers the chance to benefit from the currently low interest rate when securing a fixed-term deal - which would reassure them should the base rate rise in the longer-term.
A fixed offset arrangement is when a depositor chooses to have interest paid on a savings account transferred directly toward paying their mortgage.
|
