Coventry woos first-time buyers with new products

Coventry Building Society has launched a new range of mortgages aimed at attracting the first-time buyer market.

Coventry has launched a range of first time buyer-only products including a 1.40% discount (current applied rate 4.35%) until September 30 2005 before changing to a 0.76% discount until September 30 2008.

Among fixed rate deals on offer to first time buyers, the Coventry is also offering a 4.45% rate until September 30 2005, changing to a 0.76% discount until September 30 2008.

Added incentives for the deals include free valuation, no higher lending or arrangement fees, and no early redemption charges.

A new range of discounted, fixed and flexible mortgages is also available to remortgagers, and house purchasers as well as first-time buyers. As an additional incentive, all products offer free accident, sickness and unemployment cover for three months.