View more on these topics

Lowest five-year fix from Coventry

Coventry Building Society is introducing a new mortgage portfolio including its lowestever five-year fixed rate at 4.6 per cent.

The range includes threeand 10-year fixed rates as well as a five-year capped rate.

The five-year fixed loan runs until December 31, 2007 and is available up to 75 per cent loan to value for new customers or 95 per cent LTV for existing members.

It has an arrangement fee of £295. Redemption penalty is six months&#39 interest during the fixed term with no overhang.

A three-year loan is available up to 95 per cent LTV and is fixed at 4.45 per cent until December 31, 2005. It has an arrangement fee of £295 and redemption penalty of six months&#39 interest during the loan term.

The 10-year rate is fixed at 5.39 per cent until December 31, 2012 and offers borrowers the opportunity to repay 5 per cent of their loan during the fixed term. It has an arrangement fee of £325 and redemption penalty of nine months&#39 interest until December 31, 2007, then six months&#39 interest for the remainder of the fixed term. It is available up to 95 per cent LTV.

The five-year Flexx capped product is capped at 5.49 per cent until December 31, 2007. Minimum rate to which it can fall is 4 per cent. It has no early redemption penalty and is available up to 95 per cent LTV.

Senior product manager (mortgages) Jeremy Claridge says: “The 4.6 per cent rate is the lowest that Coventry has ever launched and is in direct response to the softening of prices in the money markets. We believe the pricing is at the lowest level it will reach and expect rates to rise, so this is a great opportunity to fix for the next five years.”


Network Data throws brokers a lifeline on loan exams

Mortgage group Network Data is throwing a lifeline to brokers who fail to pass their mortgage exams by the end-of-year deadline by taking full responsibility for their compliance and training.Network Data says the aim of the move is to prevent many brokers going out of business.The mortgage network is launching its trainee supervision scheme this […]

Legal & General – 2 in 1 Isa

Wednesday, 9 October 2002 Type: Unit trust mini or maxi Isa Aim: Growth by investing in unit trusts Minimum investment: Lump sum £500, monthly £50 Maximum investment: £7,000 Catmarked: No Investment choice: Legal & General UK index and cash trusts Charges: Annual 0.5% UK index trust Commission: Initial 1% for lump sum investments, 0.75% for […]

Child trust fund details revealed in next Budget

The final details of the Government savings initiative, the child trust fund, are to be announced in the next Budget, Treasury Financial Secretary Ruth Kelly has confirmed.Speaking at the annual Labour conference in Blackpool, Kelly said the Government was committed to the idea but that final decisions, such as whether to allow the entire market […]

80% of advisers see single EU regulator in the next 10 years

Almost 80 per cent of IFAs believe there will be a single European Union financial services regulator within the next decade, according to August&#39s online survey by technology specialist 1st Software.Around 1,000 visitors to the 1st Software website responded to the 1st Impressions poll which was carried out to measure the opinions of firms on […]

Protecting long-term savings from short-term policy

By Jamie Clark, Business Development Manager The pensions revolution is almost upon us. As with any revolution, there will be winners and losers. The winners in this case could presumably be the politicians that orchestrated pensions freedom and choice just before the general election. As for the losers, there may be many thousands of people […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    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