Coventry Building Society fixed-rate mortgages 'set to be popular'

Date:Monday 9th August 2010
Author: Max Freedman

There are likely to be plenty of consumers interested in certain Coventry Building Society fixed-rate mortgages, after the institution cut the interest rates on them.

This is the view of Colin Franklin, sales and marketing director at the organisation, who said he is delighted to be able to drop the interest on the home finance deals.

Applicants for the Coventry Building Society fixed-rate mortgages of two and three-year terms saw the interest drop from 3.15 to 3.05 per cent and 3.99 to 3.75 per cent respectively.

Mr Franklin remarked: "With many borrowers looking for stability, our reduced rates offer even better value. We expect these to be very popular so borrowers need to act now to avoid missing out."

Last month, the firm unveiled a capped tracker product at BBR +2.5 per cent, with the interest capped at 4.99 per cent for three years for mortgages of up to 60 per cent loan to value.