Coventry Building Society mortgages 'protect homeowners from interest rate rises'

Date:Monday 5th July 2010
Author: Max Freedman

Consumers who are worried about interest rates going up soon may be interested in a new range of Coventry Building Society mortgages, a spokesperson for the firm has suggested.

Colin Franklin, sales and marketing director at the company, claimed that there are likely to be plenty of people in this situation, which could make these new deals popular.

He explained: "Our fantastic new capped base rate tracker offers protection for the next three years, with a great low starting rate of 3.00 per cent."

The product is capped at 4.99 per cent until June 30th 2013 and is available at up to 60 per cent loan to value (LTV).

Another tracker arrangement announced by Coventry Building Society mortgages stays at 1.99 per cent above the base rate until September 30th 2012 for up to 75 per cent LTV, but is not capped during this time.

Last week, the organisation revealed that it had carried out a series of talks at local school Stoke Park to celebrate My Money Week.