The range includes the following products.
First Time Buyer Mortgages
• 5.19%, fixed until 30.09.17, 85% LTV, £199 booking fee with £300 arrangement fee.
• 5.39%, fixed until 30.09.17, 90% LTV, £199 booking fee with £300 arrangement fee.
Member’s First Time Buyer Mortgage
• 5.19%, fixed until 30.09.17, 90% LTV, £199 booking fee with no arrangement fee and £500 IKEA Gift card (issued on completion).
To qualify for the Member’s First Time Buyer Mortgage, your client or their grandparent, parent or guardian must have held a Coventry savings, Coventry current account (in the case of grandparent/parent or guardian - a Coventry mortgage is accepted) continuously for the last three years or more at the time of application.
In addition, Coventry Intermediaries is launching new products for buy-to-let investors, also on Thursday 9th August including:
Buy to Let
• 3.59% Flexx Fixed to 31.10.14, 65% LTV, £250 booking fee with £1,800 arrangement fee and no ERCs
• 4.65% Fixed to 31.10.17, 65% LTV, £250 booking fee with £1,800 arrangement fee
• +2.99% BBR Tracker to 31.10.14 (current rate 3.49%), 65% LTV, £250 booking fee with £1,800 arrangement fee
Colin Franklin, managing director of Godiva Mortgages, said: “We think that first-time buyers deserve some help when they’re starting out. Our new 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% LTV. It’s getting easier for clients to realise their dreams of home ownership.
“We think it’s important to support our existing members, their children and grandchildren. That’s why our members' first-time buyer mortgage offers such a good deal. This product is unique in this market and fully available through our intermediary partners. If a client – or their parent, grandparent or guardian – is an existing Coventry member, brokers can now offer them something even more special.
“As well as low flat fees, all of our first-time buyer products include a valuation up to £670. So whatever your clients are looking for, we are confident that our extended range has something for everyone.”
