5-yr fixed mortgage gets top rating | Product News - Moneyfacts

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5-yr fixed mortgage gets top rating

5-yr fixed mortgage gets top rating

Category: Mortgages
Date: 22/04/2015

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 It is now over 6 months old so the content may be out of date.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 selected mortgage rates. One of the deals to benefit from a 0.10% decrease is its five-year fixed rate deal, which has been awarded the highest accolade as a result.

The basics…

This mortgage now has a highly competitive rate of 2.29% fixed until 30.6.20, the top rate for its sector, which enables it to take a leading place on the Moneyfacts charts. It is available at a loan-to-value (LTV) of 65% and comes with a fee of £999.

The finer details…

This deal is open to first-time buyers, homemovers and remortgagors with a 35% deposit. All borrowers can profit from an incentive package of free valuation (max £670), while those looking to remortgage can also benefit from free legal fees.

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

Why we like it…

Thanks to its rate decrease, this deal's competitiveness has been boosted, allowing it to hold its own in the Moneyfacts charts. As a result, it is likely to be an eye-catching choice for those with the necessary deposit, particularly as it also boasts a generous incentive package and some repayment flexibility. This is an outstanding product that fully deserves the highest Moneyfacts rating.

Moneyfacts rating: Outstanding

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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