New variable mortgage is ‘outstanding’ | Product News - Moneyfacts

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New variable mortgage is ‘outstanding’

New variable mortgage is ‘outstanding’

Category: Mortgages
Date: 17/07/2015

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 It is now over 6 months old so the content may be out of date.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 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.

The basics…

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.

The finer details…

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.

Why we like it…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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