5-yr fixed mortgage gets 0.10% reduction | Product News - Moneyfacts

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5-yr fixed mortgage gets 0.10% reduction

5-yr fixed mortgage gets 0.10% reduction

Category: Mortgages
Date: 14/04/2016

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 It is now over 6 months old so the content may be out of date.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 on its five-year fixed mortgage by 0.10%, cementing its place in the charts and earning it an 'excellent' rating in the process.

The basics…

This deal now has a rate of 2.75% fixed until 30.6.21, which allows it to sit comfortably in the charts. It is available at a loan-to-value (LTV) of 85% and has a fee of £999.

The finer details…

All borrowers who have a deposit of 15% are welcome to apply for this mortgage. An incentive package of free valuation fees (max £670) is offered to all applicants while those looking to remortgage can also take advantage of free legal fees.

Overpayments of up to 10% of the outstanding balance are also permitted, giving borrowers some welcome flexibility.

Why we like it…

Borrowers who are searching for a competitive five-year fixed mortgage are likely to welcome the rate reduction to this deal. It now has an attractive rate and an enticing incentive package, particularly for remortgagors, as well as benefiting from some repayment flexibility.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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