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Coventry to launch 90% LTV 5-year fixes starting at 5.19%

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Coventry Intermediaries is launching a new range of residential and buy-to-let mortgages, which include two 90 per cent loan-to-value five-year fixed rates starting at 5.19 per cent.

On Thursday, the building society will launch a five-year fixed rate at 5.39 per cent up to 90 per cent LTV, with a £199 booking fee and a £300 arrangement fee.

It will also launch a five-year fixed rate at 5.19 per cent up to 90 per cent LTV, aimed at members of the building society. The product is open to intermediaries but the borrower, their parents or grandparents must have a Coventry Building Society savings account to qualify for the mortgage. The mortgage is available for a £199 booking fee although there is no arrangement fee.

Coventry is also introducing a five-year fixed rate at 5.19 per cent up to 85 per cent LTV, which is available for a £199 booking fee and £300 arrangement fee.

In addition, Coventry is launching two fixed rate buy-to-let products and a buy-to-let tracker.

The two-year fixed rate is available up to 65 per cent LTV at 3.59 per cent, for a £250 booking fee and a £1,800 arrangement fee. There are no early repayment charges.

The five-year fixed rate is available up to to 65 per cent LTV at 4.65 per cent, for a £250 booking fee and £1,800 arrangement fee.

The tracker is available at base rate plus 2.99 per cent up to 65 per cent LTV. There is a £250 booking fee and a £1,800 arrangement fee.

Godiva Mortgage managing director Colin Franklin says: “We think that first-time buyers deserve some help when they are starting out. Our new first-time buyer range offers a winning combination designed with this type of client in mind.

“Our range offers low, flat fees together with a competitive fixed rate for those early years, available up to 90 per cent LTV. It is getting easier for clients to realise their dreams of home ownership.”

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