Coventry Building Society mortgage range introduces new fixed rates

Date:Friday 9th April 2010
Author: Susanna Kavka

A two-year 3.99 Flexx fixed-rate deal with a loan-to-value (LTV) of 65 per cent is on offer, alongside a similar three-year 4.49 per cent deal with a 75 per cent LTV.

Colin Franklin, sales and marketing director at the organisation, said the deals offered security to customers while paying back their mortgage.

He added: "With interest rates at a historic low, many people are using this opportunity to overpay on their mortgage and in some cases, become mortgage free many years earlier than they expected."

It was recently found that a quarter of buyers did not know the total cost of moving house, with one in ten believing the excess would amount to just £1,000, according to

However, extras such as solicitors' fees, survey charges and stamp duty tax add up to a substantially larger proportion than is commonly thought and so Karen Barrett, chief executive of the comparison website, recommends budgeting in order to prevent any unpleasant surprises.