A leading mortgage lender has announced a new discounted mortgage which it hopes will interest homebuyers looking to reduce their monthly outgoings.
Coventry Building Society will introduce its discounted mortgage from February 15th, offering a 2.45 per cent saving on its standard variable rate until the end of March 2009.
And the new deal also comes with competitive fees, interest calculated daily and offers up to 85 per cent loan-to-value.
"For those who consider interest rates to be close to their peak, not only are we offering good value with a lower pay rate in the shorter term but also a possible rate reduction in the medium term," said Colin Franklin, head of sales at Coventry.
"In addition, it has realistic fees, offering a fair deal for customers, at a time when many of the fixed deals currently available in the market come at a premium rate with higher fees."
Latest figures put Coventry as the fifth biggest building society in the UK with total group assets of more than £11 million.
We have helped thousands of UK people obtain advice on Remortgages.
We Believe the Best Advice is 'Independent' Advic
- More first-time buyers committing to long-term mortgages
New homeowners will be spending longer than ever paying off a mortgage as they look at ways round increased affordability issues. A new report by.... - Secured Loans
For most people, acquiring loans have become a normal task to achieving their life goals. When making an expensive purchase such as a home,.... - First-time buyers paying more than ever
First-time buyers are being battered by a double-whammy as house prices and interest rates continue to rise, according to a new report by a leading.... - Stamp duty threatens more first-time buyers
A leading financial group has warned that repossession rates may grow this year as more first-time buyers are hit with higher prices and stamp duty....