2-yr fixed mortgage gets a welcome rate cut | Product News - Moneyfacts

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2-yr fixed mortgage gets a welcome rate cut

2-yr fixed mortgage gets a welcome rate cut

Category: Mortgages
Date: 22/01/2016

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Coventry Building Society has reduced the rate of its two-year fixed mortgage by 0.20%, boosting its competitiveness and earning it an 'excellent' rating in the process.

The basics…

This deal now has a competitive rate of 2.25% fixed until 31.3.18, enabling it to take a place on the Moneyfacts charts. It is available at a loan-to-value (LTV) of 90% and has a fee of £999.

The finer details…

All borrowers with a modest deposit of 10% are welcome to apply for this mortgage, which comes with an enticing incentive package of free valuation (max £670) for all applicants as well as free legal fees for those who are remortgaging.

Overpayments of up to 10% of the outstanding balance per annum are also permitted, giving borrowers a degree of repayment flexibility.

Why we like it…

The rate reduction on this mortgage has lifted it into the charts and ensured that it attracts notice for all the right reasons. In addition to a competitive rate it boasts a generous incentive package, particularly for remortgagors, as well as giving borrowers the opportunity to make overpayments to reduce their mortgage term.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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