Godiva launches ERC-free 125% product

Godiva Mortgages is adding a flexible fixed rate product with no early repayment charge to its MOREgage range.

The specialist lending subsidiary of Coventry says the product is unique in the 125% market.

Colin Franklin, managing director of Godiva Mortgages, says: “Our MOREgage products offer the combination of secured and unsecured lending – a 95% LTV mortgage and up to 30% personal loan.

“The introduction of this new product gives brokers and their clients the best of both worlds – a competitive fixed rate with flexibility.

“With no ERCs on the mortgage or unsecured personal loan, we’re sure this product will be popular with house movers and first-time buyers alike.”