Coventry make big reductions to their mortgage rates
The Coventry Building Society have made big reductions to the price of their fixed rate mortgages with cuts of up to 0.9%. They have also launched a range of low arrangement fee deals, starting at £199.
The lowest rate Coventry now offers is a two year tracker at 2.59%. Another rate that is sure to be popular is their five year fix at 3.99%. Both mortgages require borrowers to put down a 25% deposit and there is an arrangement fee of £999. For those wanting to fix for the next two years, there is a 3.05% rate for those with a 35% deposit. This has a £199 arrangement fee.
Northern Rock have also lowered their fixes. The lowest fix they offer is for two-years at 3.09%. They also have a five year fixed at 4.49%. Both mortgages require a 30% deposit and have an arrangement fee of £995.
Aaron Strutt, a broker at Trinity Financial Group, says: "It is good news that lenders are continuing to lower the cost of their mortgages. One added benefit of the Coventry's deals is that they come with a free property valuation on a house purchase. Remortgages also have a free property valuation and legal service.
October 9, 2010
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