Coventry Building Society has reduced the rates on selected mortgages in its range. One mortgage to profit was its variable for term mortgage, which has improved its position in the Moneyfacts charts and merited a five-star review as a result.
This mortgage now has a variable rate of 1.85% and is available at 65% loan-to-value, boasting the lowest rate of its sector. A fee of £999 is payable.
This mortgage is available to first-time buyers, second-time buyers and remortgagors. All applicants can benefit from an incentive package of free valuation (up to £670) while those looking to remortgage can also benefit from free legal fees.
Overpayments are allowed, which offer borrowers payment flexibility. There is also an option to take payment holidays of up to three months per year, although this is subject to approval.
This mortgage was already a Moneyfacts best buy, but the rate decrease has pushed it even further above its rivals. The rate is the most competitive for its sector and, combined with the low fee and attractive incentive package, this mortgage offers an enticing deal to those with the necessary deposit.
The highest accolade of five Moneyfacts Stars has been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
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