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Godiva cuts B2L tracker to 3.85%

Godiva Mortgages, part of Coventry Building Society, has cut its two-year buy-to-let tracker by 0.5% to Bank of England base rate plus 3.35%.

The product is available at up to 60% LTV and comes with a £1,050 fee.

It includes legal services for those remortgaging and a valuation of up to £680.

Coventry Building Society has also launched two fixed rate products which allows borrowers to overpay as much as they like with no penalty.

The rates include a two-year fixed rate deal at 3.99% at up to 65% LTV and a three-year fixed rate deal at 4.49% at up to 75% LTV.

All of Coventry’s residential products include one valuation up to £650 and a legal package for remortgage cases.

Colin Franklin, sales and marketing director at Coventry, says: “With interest rates at a historic low, many borrowers are using this opportunity to overpay on their mortgage, and in some cases become mortgage-free many years earlier than they expected.

“We’ve designed our flexx fixed range to allow them to continue doing this whilst benefiting from the security a fixed rate product offers”.



Life after the CML

By Roy Armitage, head of credit at LendInvest Last month saw three-quarters of the membership of the Council of Mortgage Lenders (CML) vote in favour of plans to create a super-trade body, which would see the CML merge with the likes of the British Bankers’ Association and Payments UK. There is little room for misty-eyed […]


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