Rate cut shoots 5-yr fixed mortgage into charts | Product News - Moneyfacts

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Rate cut shoots 5-yr fixed mortgage into charts

Rate cut shoots 5-yr fixed mortgage into charts

Category: Mortgages
Date: 29/04/2016

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 It is now over 6 months old so the content may be out of date.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 on its five-year fixed mortgage by 0.10%, pushing it into the Moneyfacts charts and securing it the highest rating in the process.

The basics…

This deal now has a rate of 2.49% fixed until 30.6.21, the lowest rate currently available in its sector. It is offered at a loan-to-value (LTV) of 80% and has a fee of £999.

The finer details…

All borrowers with a 20% deposit are welcome to apply for this deal, which comes with free valuation (max £670) for all applicants and free legal fees for those who are looking to remortgage. Borrowers can also make overpayments of up to 10% of the outstanding mortgage, which gives them a degree of flexibility in terms of their repayments.

Why we like it…

This deal has made waves in the charts thanks to its rapid ascendency – something that is bound to be noticed by borrowers. Now paying the lowest rate for its terms this deal is an attractive offer, especially when combined with its incentive package, which will help to keep upfront costs down. 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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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