Coventry Building Society has launched a new range of offset and buy to let products with flat fees, ideal for borrowers who requiring a larger loan.
The offset, available at up to 65 per cent loan to value, is priced at 3.49 per cent Flexx for term, with a £199 booking fee, £1,800 arrangement fee with no early repayment charges.
Alternatively, borrowers could choose 3.69 per cent Flexx for term, with a £199 booking fee, £1,300 arrangement fee with no early repayment charges.
The buy to let mortgages at 65 per cent LTV are priced at 3.75 per cent fixed rate until 31.03.2014, £250 booking fee with £2,249 arrangement fee. Alternatively, there’s a 3.99 per cent fixed rate until 31.03.2014, £250 booking fee with £1,749 arrangement fee or 4.25 per cent fixed rate until 31.03.2014, £250 booking fee with £999 arrangement fee.
Colin Franklin, sales and marketing director, Coventry Building Society, said: “This week we are launching a range of products ideal for those requiring a larger loan but still want a great rate.
“The fees attached to mortgage products are often perceived as something to avoid, but in some cases you can save money on your mortgage by paying a flat fee and getting a lower interest rate in return. So borrowers requiring larger mortgages may be better off with a flat fee rather than a percentage fee.
“Our new Flexx for term range offers fantastic value with low rates from 3.49 per cent and with no early repayment charges. Borrowers also have the flexibility to choose from a range of fee options to suit them. All products include a valuation up to the value of £670 for Offset or £700 for BTL loans and a legal package for those remortgaging to us.
“We plan to launch more great products in the coming weeks, so keep your eyes peeled for the Coventry.”
