Its first-time buyer range includes a rate of 5.19% which is fixed for five-years and available up to 85% LTV; and a rate of 5.39% which is fixed for five-years and available up to 90% LTV. Both deals include a £199 booking fee and £300 arrangement fee.
It has also introduced a member’s first-time buyer mortgage at 5.19%, fixed for five-years, which is available up to 90% LTV. The deal includes a £199 booking fee, no arrangement fee and a £500 IKEA Gift card (issued on completion).
To qualify for the member’s first-time buyer mortgage, the client or their grandparent, parent or guardian must have held a mortgage, savings or current account from Coventry for more than three years at the time of application.
Colin Franklin (pictured), managing director of Coventry’s intermediary arm, Godiva Mortgages, said: “We think that first-time buyers deserve some help when they’re starting out. Our range offers low, flat fees together with a competitive fixed rate for those early years, available up to 90% LTV.
“We think it’s important to support our existing members, their children and grandchildren. That’s why our member’s first-time buyer mortgage offers such a good deal. The product is unique in this market and fully available through our Intermediary partners. If a client or their parent, grandparent or guardian is an existing Coventry member, brokers can now offer them something even more special.”
Coventry Intermediaries is also launching products for buy-to-let investors.
The deals include a 3.59% flexx fixed until 31.10.14 and available up to 65% LTV; a 4.65% five-year fix, available up to 65% LTV; and a +2.99% BBR Tracker fixed until 31.10.14, also available up to 65% LTV.
All deals include a £250 booking fee with a £1,800 arrangement fee.
