Coventry announces new capped mortgage

21-Feb-2007

The Coventry Building Society has announced details of a new capped-rate mortgage, which may be of interest to first time buyers.

Available from tomorrow, the new capped-rate product offers an interest rate of +0.30 per cent above the Bank of England's base rate until March 31st 2012 and is available to first time buyers as well as repeat purchasers.

The current rate of interest is 5.55 per cent, capped at a maximum of 5.69 per cent until March 31st 2012.

To find out more about this mortgage and other mortgages for first time buyers, click here.

"Whether you're a first time buyer, remortgaging or moving home, we're confident we can help with a Coventry mortgage," says the mortgage lender.

Available up to a loan-to-value of 95 per cent, interest is charged on a daily basis and is available with a £650 arrangement fee.

A £199 booking fee also applies.

The Coventry Building Society offers a range of mortgages, including products specifically for first time buyers and those looking to buy-to-let.

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