View more on these topics

Coventry Building Society – MOREgage 6.6% Capped Rate

Coventry Building Society

MOREgage 6.6% Capped Rate

Type: Capped rate tracker mortgage combined with unsecured personal loan

Capped term: Until March 31, 2008

Capped rate: 6.6%

Tracker term: Lifetime of loan

Tracker rate: Up to 95% of valuation with unsecured personal loan up to 30% – 1.5% above Bank of England base rate, with unsecured personal loan up to 20% – 1.3% above base rate, with unsecured personal loan up to 10% 1.2% above base rate

Payable rate: Up to 95% of valuation with unsecured personal loan up to 30% – 6.25%, with unsecured personal loan up to 20% – 6.05%, with unsecured personal loan up to 10% – 5.95%

Minimum loan: 1

Maximum loan: Up to 95% of valuation plus unsecured personal loan up to 30% of valuation subject to a maximum of 250,000

Income multiples: Up to four times principal income plus second or three times joint

Conditions: Capital repayments of up to 10% a year allowed without penalty, one free valuation up to 650

Arrangement fee:250 plus 199 booking fee

Redemption fee: 4% of mortgage balance until March 31, 2008

Introducers fee: Subject to negotiation

Tel: 0845 7767825

Recommended

The resonators

Keep communicating through good and bad times and make your message reverberate.

Mortgage edge – John Webster

Critics of the HLC have suggested that it is added to the loan purely to claw back money lost under the pretence of a low interest ratebut the HLC is needed to accommodate the additional risk that comes with higher LTV loans.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com