Key features of these market leading products are:
Capped Rate mortgage
- Capped at 5.69% until 31 March 2010
- 0.50% above Bank of England Base Rate for mortgage term
- Current applied rate 5.25%
- Free valuation
- £199 booking fee
- £199 arrangement fee (waived for remortgagors)
- Early redemption charges: 4% of balance to 31 March 2010
Flexx Capped Rate mortgage
- Capped at 5.30% until 31 December 2006
- 0.69% above Bank of England Base Rate for mortgage term
- Current applied rate 5.30%
- No early redemption charges
- Daily interest
- Flexible features
- £199 booking fee
- £250 arrangement fee (waived for remortgagors)
Jeremy Claridge, Senior Product Manager for Coventry Building Society said: “We have designed these products to deliver value to the customer, whatever happens to interest rates. Our very attractive tracker feature will pass on the benefit of any downward movement in rates, whilst offering the security of a cap if rates were to rise.”
