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Coventry launches seven-year fixed range

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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.”

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