‘Outstanding’ 5-yr mortgage | Product News - Moneyfacts

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‘Outstanding’ 5-yr mortgage

‘Outstanding’ 5-yr mortgage

Category: Mortgages
Date: 30/04/2015

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 It is now over 6 months old so the content may be out of date.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 the rate of its five-year fixed mortgage by 0.10%, catapulting it to the top of the Moneyfacts charts and earning it the highest accolade for its competitive terms.

The basics…

This mortgage now has a market-leading rate of 2.19% fixed until 30.6.20, earning it the top spot in its sector. It is available at a loan-to-value (LTV) of 65% and has 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 their property can also benefit from free legal fees.

Overpayments of up to 10% of the outstanding balance are permitted, giving borrowers some welcome repayment flexibility and the chance to reduce the overall term.

Why we like it…

The rate decrease has made this deal even more competitive, sending it straight to the top of its sector. This is bound to catch the eye of borrowers with the necessary deposit, particularly as this deal also possesses an enticing 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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