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Coventry BS reduces rates on 10-year fixed mortgages

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  • 16/08/2019
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Coventry BS reduces rates on 10-year fixed mortgages
Coventry for Intermediaries has reduced rates across its 10-year fixed owner-occupier mortgage range by up to 0.15 per cent.

The lender has also reduced rates on its two-year fixed standard residential products by 0.05 per cent for 90 per cent loan to value and its five-year fixed standard residential and offset products by up to 0.10 per cent. 

Changes to the 10-year fixes include: 

  • 2.20 per cent 10-year fixed until 30 September 2029, at up to 50 per cent loan to value (LTV) with early repayment charges (ERC) payable until 30 September 2024 and a £999 product fee; 
  • 2.40 per cent offset 10-year fixed until 30 September 2029, at up to 65 per cent LTV, with ERCs payable until 30 September 2029 and a £999 product fee 

Kevin Purvey, director of intermediaries, said: “Many borrowers are nervous about future market conditions, which is why more lenders are offering 10-year fixed rate mortgages and rates have never been more competitive.

“A wide range of clients could benefit from a longer-term fixed mortgage – from those who are close to the end of their mortgage deal to families looking to keep costs down for longer – so it’s worth brokers considering these products for their clients.” 

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