Coventry Building Society has put pressure on its competitors with a new highly attractive variable rate mortgage, earning it a chart place and the top accolade as a result.
This deal has a variable rate of 2.15% for the term of the mortgage, the lowest rate currently available in its sector. It is available at a loan-to-value (LTV) of 85% and has a fee of £999.
This deal is available to all borrowers with a deposit of 15%. An incentive package of free valuation fees (max £670) is offered to all applicants, while those seeking a remortgage can also benefit from free legal fees.
The mortgage also offers a welcome degree of repayment flexibility: both overpayments and payment holidays are permitted provided certain conditions are met.
The competitive rate combined with the enticing incentive package and flexible repayment options make this a great all-round deal that is bound to appeal to borrowers with a more modest deposit. This is an outstanding product that fully deserves the highest Moneyfacts rating.
Moneyfacts rating: Outstanding
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