Coventry launches ERC free range

Yuan Phoon

October 25, 2011

Highlights of Coventry’s residential range include a flexx tracker at 2.25% above Bank Base Rate, capped at 3.75%, available at 65% loan to value, a flexx tracker at 2.49% above BBR, capped at 3.99%, available at 75% LTV and a flexx tracker at 3.25% above BBR, capped at 4.75%, available at 80% LTV.

All flexx trackers above are capped until the end of 2014 and come with no early repayment charges.

Highlights of Coventry’s buy-to-let range also include flexx BBR trackers capped until the end of 2014 at 65% LTV until the end of 2014 with no ERCs, with arrangement fee free versions available.

Colin Franklin, managing director at Godiva Mortgages, said: “Every borrower wants to take advantage of the current low base rate, our new capped trackers with no ERCs are perfect.

“If the base rate goes down, so does the rate, if the base rate stays flat, so does the rate and if the base rate increases, the cap gives borrowers the peace of mind of a maximum rate. And with no ERCs and unlimited over payments, borrowers have the ultimate flexibility.

“So whether it’s for a remortgage, house purchase, or a buy-to-let investment, this new range is ideal for everyone.”


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