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Coventry launches ERC-free BTL deals

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  • 27/07/2011
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Coventry launches ERC-free BTL deals
Coventry Intermediaries is to launch a range of buy-to-let deals, with no early repayment charges (ERCs) and interest rates from 3.99%.

The ERC-free range, including two-, three- and five-year mortgages, will be available from 29 July.

Flexx Fixed deals include two-year fixed rates at 3.99%, with fees of £1,749, and 4.69% with a booking fee of £250, both up to 65% LTV.

In addition, there is a three-year fixed rate at 4.49% up to 65% LTV, and five-year fix at 5.49% to 75% LTV, both with fees of £1,749.

There is also a five-year fixed rate at 5.85% up to 75% LTV, with a booking fee of £250.

Coventry has also cut rates on its buy-to-let capped deals, with interest rates from 3.79% up to 65% LTV.

All deals include a valuation up to £700 and remortgage transfer service.

Colin Franklin, managing director of Godiva Mortgages, said: “In today’s uncertain market, many investors are looking for the security of a fixed rate but with flexibility to overpay or switch products later on without paying ERCs.

“There are no other fixed rate buy to let products without ERCs available in today’s market so we are confident that our new range, which offers ultimate flexibility, will be very popular. And for investors looking for low initial costs, our capped rate with no arrangement fees is ideal.”

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