Coventry Intermediaries is launching a new range of residential and buy-to-let fixed, tracker and capped mortgages with no early repayment charges.
The residential products include a tracker up to 65 per cent loan-to-value at base rate 2.25 per cent, which is capped at 3.75 per cent until December 31, 2014, and a tracker at base rate plus 3.75 per cent, capped at 4.75 per cent until December 31, 2014, available up to 80 per cent LTV.
The buy-to-let range includes a tracker at base rate plus 3.49 per cent, capped at 4.99 per cent for three years, which is available up to 65 per cent LTV. It also includes a two-year fixed rate mortgage at 3.99 per cent available up to 65 per cent LTV.
Godiva Mortgages managing director Colin Franklin says: “Every borrower wants to take advantage of the current low base rate – our new capped trackers with no ERC’s are perfect. If the base rate goes down, so does the rate, if the base rate stays flat, so does the rate and if the base rate increases, the cap gives borrowers the peace of mind of a maximum rate. And with no ERC’s and unlimited over payments, borrowers have the ultimate flexibility.”