Both deals are available up to 65% LTV with a £199 booking fee.

The 3.49% product has an arrangement fee of £800, while there is no arrangement fee for the 3.60% mortgage.

An early repayment charge of 4% applies across the five-year deal period for both mortgages.

The products come a basic valuation up to £670 and a free legal package on remortgages.

Colin Franklin, managing director at Coventry subsidiary Godiva Mortgages, said: “A rate of 3.49% is the best five-year fix on the market today.

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“Alternatively, clients can choose to take a rate at 3.60% with no arrangement fee if they prefer. In today’s market, borrowers need a choice.”