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Santander and Coventry release new mortgage ranges

by: Paul Robertson
  • 30/10/2014
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Santander and Coventry Building Society have both brought out changes to their mortgage offering.

Santander has launched two fixed rates through the intermediary channel. Available for home-movers, first-time buyers and remortgage customers, and with a £995 booking fee, they are: a two-year fixed at 1.94%, up to 75% loan-to-value (LTV) or at 2.79%, up to 85% LTV.

Santander is also cutting the rate on its five-year fixed mortgage (75% LTV) to 2.89%, a reduction of 50bps. With a booking fee of £995, customers can arrange this mortgage both directly and via intermediaries.

Miguel Sard, head of mortgages at Santander, said: “These new rates represent a fantastic deal if you are looking for the security of fixed mortgage, and both customers and brokers should act now to make sure that they do not miss out.”

Meanwhile, Coventry Building Society has launched a new residential range including fixed rates and Flexx forTerm options.

Highlights include;

• 1.79% Flexx for Term, variable rate, 65% LTV, £199 booking fee, £300 arrangement fee and no early repayment charges (ERCs).
• 1.89% Fixed Rate until 31.12.16, 65% LTV, £199 booking fee, £300 arrangement fee, ERCs payable to 31.12.16.
• 3.29% Fixed Rate until 31.12.19, 80% LTV, £199 booking fee, no arrangement fee, ERCs payable to 31.12.19.

Darin Landon, distribution director of Coventry Building Society, said: “Our new range should be very popular. And as always, all residential products include a valuation up to £670 and access to our remortgage transfer service.”

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