Coventry for Intermediaries has launched a range of seven-year fixed residential mortgages.
The range is available from today. Rates start from 1.99 per cent for a seven-year fix at 50 per cent LTV with a £999 arrangement fee.
The new products also include a 2.55 per cent product at 85 per cent LTV, also with a £999 arrangement fee.
All the seven-year range have early repayment charges of five per cent in the first year, three per cent for the next two years and 1 per cent for the rest of the term.
Coventry for Intermediaries director of intermediaries Kevin Purvey says: “With rates low and uncertainty high, many brokers’ clients will be looking to lock into longer term fixed rate mortgages.
“Our new seven-year fixed range – at market-leading rates with a range of LTVs – bridges the gap between the five- and 10-year options currently on the market.”