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.
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.
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.
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
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