Coventry Building Society

Coventry Building Society

October 31, 2013 12:05 ET

Coventry Building Society Launches New Range Including a Market Leading Base Rate Tracker for 5 Years +1.49%

LONDON, UNITED KINGDOM--(Marketwired - Oct. 31, 2013) -

This news release is for the use of journalists only.

Coventry Building Society launches new residential and BTL products with rate cuts of up to 0.50% on selected products for new applications. The range includes a market leading Flexx for Term at 2.00% with no ERC's. Available from Wednesday 30th October, highlights include;

Residential

  • 1.99% (+1.49% Base Rate Tracker) until 31.12.18, 65% LTV £199 booking fee, £800 arrangement fee and early repayment charges (ERCs) payable to 31.12.18.
  • 2.00% Flexx for Term, variable rate, 65% LTV, £199 booking fee, £800 arrangement fee with no ERCs.
  • 3.25% (reduced from 3.55%) Fixed Rate until 31.12.15, 85% LTV, £199 booking fee, no arrangement fee and ERCs payable to 31.12.15.

Buy to Let

  • 2.79% (reduced from 3.29%) Fixed Rate until 31.10.15, 65% LTV £250 booking fee, £1,749 arrangement fee and ERCs payable to 31.10.15.
  • 3.49% Fixed Rate until 31.10.16, 65% LTV, £250 booking fee, £1,749 arrangement fee and ERCs payable to 31.10.16.
  • 3.89% Fixed Rate until 31.10.18, 65% LTV, £250 booking fee, £1,749 arrangement fee and ERCs payable to 31.10.18.

Colin Franklin, Sales and Marketing Director, Coventry Building Society, said: We have got some fantastic new deals. For borrowers looking for a low rate, our market leading, 5 year, Base Rate Tracker at +1.49% is ideal. And for those looking for a low rate with the ultimate flexibility of unlimited overpayments and no ERC's, our Flexx for Term at just 2.00% is perfect. We also have a great new range for Buy to Let investors. Not only have we cut rates by up to 0.50% on selected products for new applications, we have also launched some highly competitive fixed rate options starting from 3.49% for 3 years. And, as always, all products include a valuation up to £670 and access to our remortgage transfer service."

Coventry BS Current
Rate
The
overall
cost for
comparison
is
Max
LTV
Fees and incentives ERC
Residential
2.95% Fixed to 31.12.15
Followed by Standard Variable Rate to 31.12.18, currently 4.74%.
Followed by Privilege Rate for the remainder of the mortgage, currently at 4.49%
2.95% 4.4% APR 85% Booking Fee: £199
Arrangement Fee: £800
Valuation up to £670
included
Remortgage Transfer
Service included
ERCs payable to 31.12.15, see below for details
Residential
3.25% Fixed to 31.12.15
Followed by Standard Variable Rate to 31.12.18, currently 4.74%.
Followed by Privilege Rate for the remainder of the mortgage, currently at 4.49%
3.25% 4.4% APR 85% Booking Fee: £199
Arrangement Fee: None
Valuation up to £670
included
Remortgage Transfer
Service included
ERCs
payable to 31.12.15, see below for details
Residential
3.95% Fixed to 31.12.18
Followed by Privilege Rate for the remainder of the mortgage, currently at 4.49%
3.95% 4.5% APR 85% Booking Fee: £199
Arrangement Fee: £800
Valuation up to £670
included
Remortgage Transfer
Service included
ERCs
payable to 31.12.18, see below for details
Residential
4.05% Fixed to 31.12.18
Followed by Privilege Rate for the remainder of the mortgage, currently at 4.49%
4.05% 4.4% APR 85% Booking Fee: £199
Arrangement Fee: None
Valuation up to £670
included
Remortgage Transfer
Service included
ERCs
payable to 31.12.18, see below for details
Residential
+1.49% BBR Tracker to 31.12.18, currently 1.99%
Followed by Privilege Rate for the remainder of the mortgage, currently at 4.49%
1.99% 3.6% APR 65% Booking Fee: £199
Arrangement Fee: £800
Valuation up to £670
included
Remortgage Transfer
Service included
ERCs
payable to 31.12.18, see below for details
Residential
Flexx for Term, variable rate currently 2.00%
2.00% 2.1% APR 65% Booking Fee: £199
Arrangement Fee: £800
Valuation up to £670
included
Remortgage Transfer
Service included
None
Residential
Flexx for Term, variable rate currently 2.25%
2.25% 2.4% APR 75% Booking Fee: £199
Arrangement Fee: £800
Valuation up to £670
included
Remortgage Transfer
Service included
None
Residential
Flexx for Term, variable rate, currently 2.85%
2.85% 3.0% APR 85% Booking Fee: £199
Arrangement Fee: £800
Valuation up to £670
included
Remortgage Transfer
Service included
None
Offset
Offset Flexx for Term, variable rate currently 3.25%
3.25% 3.4% APR 85% Booking Fee: £199
Arrangement Fee: £800
Valuation up to £670
included
Remortgage Transfer
Service included
None
Buy to Let
2.79% Fixed to 31.10.15
Followed by Standard Variable Rate for the remainder of the mortgage, currently 4.74%.
2.79% 4.7% APR 65% Booking Fee: £250
Arrangement Fee: £1,749
Valuation up to £700
included
Remortgage Transfer
Service included
ERCs
payable to 31.10.15, see below for details
Buy to Let
3.29% Fixed to 31.10.15
Followed by Standard Variable Rate for the remainder of the mortgage, currently 4.74%.
3.29% 4.6% APR 65% Booking Fee: £250
Arrangement Fee: £250
Valuation up to £700
included
Remortgage Transfer
Service included
ERCs
payable to 31.10.15, see below for details
Buy to Let
3.49% Fixed to 31.10.16
Followed by Standard Variable Rate for the remainder of the mortgage, currently 4.74%.
3.49% 4.7% APR 65% Booking Fee: £250
Arrangement Fee: £1,749
Valuation up to £700
included
Remortgage Transfer
Service included
ERCs
payable to 31.10.16, see below for details
Buy to Let
3.89% Fixed to 31.10.18
Followed by Standard Variable Rate for the remainder of the mortgage, currently 4.74%.
3.89% 4.7% APR 65% Booking Fee: £250
Arrangement Fee: £1,749
Valuation up to £700
included
Remortgage Transfer
Service included
ERCs
payable to 31.10.18, see below for details

Residential ERCs:

2 year fixed product ERCs: 3% until 31.12.14 then 1% until 31.12.15

5 year fixed product ERCs: 5% until 31.12.15, 3% until 31.12.17 then 1% until 31.12.18

Buy to Let ERC's

2 year fixed product ERCs: 3% until 31.10.14 then 1% until 31.10.15

3 year fixed product ERCs: 3% until 31.10.15 then 1% until 31.10.16

5 year fixed product ERCs: 5% until 31.10.15, 3% until 31.10.17 then 1% until 31.10.18

Customers wishing to apply for any of the Coventry's mortgages should telephone the Customer Service Centre on 0845 7665522, log on at coventrybuildingsociety.co.uk or visit any of the Coventry 's 70 branches.

Our Customer Service Centre is open seven days a week, and our advisors are available Monday to Friday 8am-8pm, Saturday 9am-5pm and Sunday 10am-4pm. Our 24 hour self-service telephone option is also available 24 hours a day, 365 days a year. Your home may be repossessed if you do not keep up repayments on your mortgage.

Contact Information