The changes are designed to provide certainty and flexibility to customers. The residential range includes a ten-year fixed offset mortgage, with ERC’s limited to the first five years, and the option of paying 10 per cent per annum without penalty; a choice of flexible fixed mortgages, some without ERC’s and some without fees; plus a base rate tracker and a 100 per cent first-time buyer mortgage.
The specialist lending products will be available through Godiva Mortgages, the Coventry’s specialist lending subsidiary. These include flexible buy-to-let, self-certification and MOREgage products.
All products offer a free valuation and free legal fees for remortgagors and are available via its website.
Colin Franklin, head of sales at the Coventry and managing director of Godiva Mortgages Limited, commented: “The addition of the new products to our range will offer introducers and their clients a choice of short and long term rates with flexibility. With a strong possibility of an interest rate rise next week, and at a time when other lenders are withdrawing fixed rate products, we are offering the opportunity for borrowers to benefit from certainty of payments.”
