Darin Landon, distribution director at Coventry Intermediaries, said: “Hot on the heels of the Chancellor’s recent announcement on Stamp Duty there is more good news for homebuyers. We have cut rates on selected two and five-year fixed rates at 85% and 90% LTV with great rates starting from just 2.59%.”
The rate cuts include a two-year fixed rate at 2.59% (reduced from 2.75%) until 31.12.16. The product has an 85% LTV and an £800 arrangement fee. Early repayment charges (ERCs) are payable until 31.12.16.
At 90% LTV borrowers can access a two-year fixed rate at 3.39% (reduced from 3.65%) until 31.12.16. The product has a £300 arrangement fee. ERCs are payable to 31.12.16.
A five-year fixed rate at 3.69% (reduced from 3.79%) is available up to 85% LTV. The product has an £800 arrangement fee and ERCs are payable to 31.12.19.
At 90% borrowers can access a five-year fixed rate at 4.35% (reduced from 4.49%) until 31.12.19. The product has no arrangement fee. ERCs are payable to 31.12.19.
Landon added: “As booking fees are no longer payable on any of our products, we have fee-free options with no arrangement fees payable either; ideal for those looking to keep their costs low. And don’t forget, all residential products include a valuation up to £670 and access to our remortgage transfer service.”
