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Coventry Building Society – Extra Light Full Status 6.5% Fixed rate

Coventry Building Society

Extra Light Full Status 6.5% Fixed rate

Type: Adverse credit fixed rate mortgage

Fixed term: Until December 31, 2008

Fixed rate: 6.5%

Minimum loan: £1,500

Maximum loan: Up to 90% of valuation subject to a maximum of £250,000, up to 85% of valuation subject to a maximum of £350,000, up to 80% of valuation subject to a maximum of £500,000

Income multiples: Based on affordability

Conditions: Capital repayments of up to 5% a year allowed without penalty, one free valuation up to £650, up to £3,000 in CCJs but none in the last six months, up to three arrears in the last 12 months but no more than one in the last six months, bankruptcy and IVA discharged/satisfied for at last 12 months acceptable

Arrangement fee: £595 plus £199 booking fee

Redemption fee: 6% of the amount repaid in first two years

Introducer’s fee: Subject to negotiation

Tel: 0845 757 3612


Proc fees could be blocked if loan is sold on

Concerns have been raised that brokers may see the potential to earn future proc fees dashed once a mortgage is sold or securitised. In a case involving A J Hird Insurance Consultants dir-ector Chris Cundell, his client’s mortgage was sold by Amber Homeloans to Infin-ity Mortgages and when the client moved home and the mortgage […]

Holding forth

The majority of fund managers still consider European equities to be a “buy”. In the past month, the Axa Framlington and Newton European fund managers have increased their recommendations from a “hold” to a “buy” while other fund managers such as Credit Suisse, Fidelity, Gartmore, Jupiter and Threadneedle are still optimistic.


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