Coventry Building Society has launched a new range of seven-year fixed mortgages.
The range includes a seven year fix at 1.99% for those with a 50% deposit. There is also another seven year deal at a slightly higher rate of 2.55% with a deposit of 15%.
Both come with a £999 arrangement fee.
Early repayment charges are 5% until 31 December 2017, 3% until 31 December 2019, then 1% until 31 December 2023.
Kevin Purvey, director of intermediaries, said: “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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