Coventry Building Society fixed-rate mortgage deals offer "peace of mind"

Date:Monday 12th October 2009
Author: Max Freedman

Coventry Building Society has urged borrowers to look at fixed-rate mortgage deals if they want to ensure that pay a consistent rate of interest on their home.

Colin Franklin, head of sales at the organisation, made his comments following the news that the building society has brought out a 3.87 per cent interest residential mortgage product, which can be applied for at up to 65 per cent loan-to-value (LTV).

He pointed out Coventry Building Society's residential mortgage was previously available at 50 per cent LTV and this change was made so that more people could take advantage of the deal.

Mr Franklin explained: "These new mortgages offer great value and peace of mind for those customers who may be worried about potential interest rate rises in future and are looking to remortgage now."

The organisation has also launched a two-year fixed-rate 5.2 per cent interest buy-to-let mortgage, which involves £1,250 in fees.

Last month, the building society announced the release of its 1st Class Postal savings account, which offers three per cent gross interest every year.