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This is an alternative to existing fixed rate products offered on the market, as well as a viable option for those wishing to remortgage away from their current lender’s standard variable rate, or a base rate tracker with no protection against rising rates.
+2.49 per cent base rate tracker until 30.06.12, current pay rate 2.99 per cent
The Society has also made a number of cuts to its existing range, with reductions of up to 0.3 per cent. Highlights include:
3.35 per cent 2 Year Fixed Rate (30.06.12), loan to value 65 per cent
3.60 per cent 2 Year Fixed Rate (30.06.13), loan to value 75 per cent
Colin Franklin, sales and marketing director at Coventry, said: "For those wishing to take advantage of low interest rates and protect themselves in future, our capped base rate tracker mortgage is perfect.
The addition of this innovative new product is another example of the Coventry continuing to set the standards in intermediary lending."
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