View more on these topics

Coventry offers mortgage with an unsecured loan

Coventry Building Society has set up Moregage, a combined mortgage and unsecured personal loan, allowing homebuyers to borrow up to 125 per cent of the value of their home.

The loan is made up of a mortgage of up to 95 per cent loan to value and an unsecured personal loan facility of up to 30 per cent.

Aimed at both first-time buyers and first-time movers, the product will give borrowers the ability to not only buy their home but also cover associated costs such as funding a deposit, home improvements or buying furniture and appliances. The interest rate is fixed until July 2009 at 6.49 per cent up to 105 per cent, 6.59 per cent to 115 per cent and 6.79 per cent up to 125 per cent.

Research by Coventry reveals that 45 per cent of non-homeowners would save for their deposit and 30 per cent would use a personal or bank loan. Nearly a quarter say they would furnish their homes using a loan or credit card.

Operations director David Stewart says: “We believe that this product offers homebuyers the opportunity to borrow within their means.”

Recommended

IFAs say future looks grim for with-profits

IFAs cannot see a future for with-profits products. Sixty-one per cent of IFAs in The One Account/Money Marketing State of the IFA Nation poll say they are not optimistic about the continuing presence of with-profits pensions in the marketplace and 52 per cent say they are doubtful about the future of with-profits bonds. Of the […]

MPs and civil servants can bust pension rules

Senior civil servants, MPs and judges can watch their final-salary pensions soar in line with pay under a clause buried in a schedule to the Finance Bill. Members of civil service and Parliamentary occupational schemes have been handed a specific exclusion from rules capping pension increases at A-Day. By selecting enhanced protection – a way […]

Aegon AM appoints IFA relationship manager

Aegon Asset Management has appointed Lynsey MacDonald as business development manager for its retail team.MacDonald will develop relationships with intermediaries in the South West of England, reporting to head of retail sales Steve Kenny. She joins from Merrill Lynch Investment Managers, where she was assistant vice president.Kenny says: “Lynsey proved her credentials in a highly […]

The wheel thing

I would love to tell you that I have worked really hard this week, made major impressions on the world of financial services and written important stories that changed the face of the industry. But that would be a downright lie. What I have made impressions on this week is a bottle of lemonade and […]

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