Mortgage News
Coventry BS and Bank of Ireland improve mortgage ranges
Coventry for intermediaries and Bank of Ireland have expanded their mortgage ranges with offset products, reduced rates on selected buy-to-let products and fixed rate additions.
Highlights from Coventry’s product changes include an offset rate of 1.59% available to customers with a minimum deposit of 50% of the property value, up to a maximum of 85% LTV (loan-to-value). It has no early repayment charges and a fee of £999. Buy-to-let borrowers can access a 1.99% rate, cut from 2.19%, for loans up to 65% LTV. The product has no early repayment charges and a fee of £1,999.
Bank of Ireland has focused on improving its fixed-rate mortgage products.
It has introduced an 85% LTV mortgage with a fixed rate of 2.28% and a 75% LTV buy-to-let mortgage offering a fixed rate of 2.93%.
The new range is available to the bank’s intermediary partner networks.
Alison Pallett, director of sales at Bank of Ireland UK, said: “As customers look for longer-term fixes, our products are tailored to provide great value and respond to customer demand. With 5-year no-fee rates starting at 2.17% for a 60% LTV product, the bank is offering a variety of options to give customers a wider choice.”
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