Coventry cuts rates by up to 0.90%
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Coventry for Intermediaries is launching a new range of mortgages on Tuesday, including a five-year fixed rate at 3.99%, up to 75% LTV.
It has also launched a number of two, four, five, and seven-year fixed rates with no arrangement fees.
Some of its best no fee deals include a two-year fixed rate deal at 3.15%, up to 75% LTV, with no arrangement fee and a £199 booking fee.
As well as a 3.05% two-year fixed rate deal at 65% LTV with no arrangement fee and a £199 booking fee.
It has also launched a two-year base rate tracker.
Through its Godiva Mortgage brand it has launched a number of buy-to-let deals.
It is offering a two-year fixed rate buy-to-let deal at 3.99% at 65% LTV, with no arrangement fee and a £250 booking fee.
As well as a two-year tracker deal at 3.75% up to 65% LTV, with no arrangement fee and a £250 booking fee.
Aaron Strutt, product and communications director at Trinity Financial, says: “These new Coventry rates are really competitive. Its two and five-year fixes are now very close to the best direct rates and they also have a free valuation on a purchase and a free valuation and legals service if you are remortgaging.
’High arrangement fees generally put borrowers off so the Coventry has a number of low fee options.”
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Readers' comments (8)
Anonymous | 8 Oct 2010 10:39 am
It all sounds very good, but watch out for the down valuation that can exclude the client from the product because it won’t fit Coventry’s LTV and the client then looses their booking fee.
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Mike Fitzgerald | 8 Oct 2010 11:45 am
Congratulations to the Coventry.This new rate cut will be much appreciated by brokers and clients alike.This coupled with their excellent service and attitude will mean that Coventry will continue to take a larger and larger share of the market
Mike Fitzgerald
The EMBA Group Ltd
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Anonymous | 8 Oct 2010 1:30 pm
Wouldn't a down valuation affect any lenders LTV criteria, not just Coventry?
Bit of a pointless piece of info that has nothing to do with this article.
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Anonymous | 8 Oct 2010 4:03 pm
Well well somebody's touched a nerve. Well done anon I'll look out for that.
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Anonymous | 8 Oct 2010 5:41 pm
dont Nationwide, Northern Rock et al charge booking fees? Had you done your homework and researched adequate comparables before charging your client a valuation fee in the first place, you wouldnt be looking at that as an excuse to blame a lender for your poor broking skills. Man up and do your job properly.
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Anonymous | 9 Oct 2010 8:23 pm
Well done Coventry for setting the pace in not charging arrangement fee.As mentioned above, booking fees are around the £300 mark from other lenders.
Follow that.
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Grey Haired Underwriter | 11 Oct 2010 12:21 pm
What the heck is a down-valuation? Such an expression ssumes that the price being paid or the value being declared is accurate. Perhaps the original figure should be classified as an over-valuation - but I guess it is not so emotive then!!
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Anonymous | 13 Oct 2010 2:24 pm
Good on the Coventry. These "Down Valuations" are nothing of the sort. Try "Realistic Valuations" in the current market.
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