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Coventry launches capped tracker buy-to-let deal

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Coventry Intermediaries is launching a buy-to-let capped tracker deal.

From tomorrow the lender is offering a two-year rate at 3.80 per cent, base rate plus 3.3 per cent, capped at 5.3 per cent until 2014 up to 65 per cent LTV.

It also comes with a £250 booking fee and £999 arrangement fee, valuations up to £700 are included.

Godiva Mortgages managing director Colin Franklin says: “Our latest buy-to-let product is another great example of product innovation here at the Coventry, as there are no other capped tracker products on the market for buy-to-let investors – this is simply unique.

“Tracking the base rate at plus 3.3 per cent gives a highly competitive rate of 3.8 per cent for two years. And, in addition to buy-to-let investors will also have the security of a cap, so if the base rate does increase within the two-year period, their rate will not rise above 5.3 per cent.”

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