Key features of this tracker product are:
- +0.10 per cent Flexx Base Rate tracker until 31 December 2008
- Followed by +0.60 per cent above Bank of England Base Rate for the term
- Current applied rate 5.10 per cent
- Free valuation
- Free legal fees for remortgagors
- Daily interest
- No early repayment charges
- £199 booking fee
- £500 arrangement fee
The Society is also launching an Offest Flexx Fixed Mortgage at 5.69 per cent until 31 December 2011. This Flexx product has no early repayment charges, free valuation, free legal fees for remortgagors and daily interest.
Colin Franklin, head of sales at the Coventry, said: “These attractive products are available to borrowers who want to combine their mortgage and savings. It means that they are effectively earning tax free interest on their savings as well as having a flexible, early repayment charge free mortgage that enables them to reduce the total amount paid.”
