Coventry launches 90pc LTV deal for FTBs

Highlights of the Flexx for Term range include a 2.65% rate with a 2.90% cap until September 2016 at 65% LTV and a 3.85% 3-year Flexx fixed rate at 85%.

Colin Franklin, managing director at Godiva Mortgages, said: “Our popular range of Flexx products has just got even better.

“Ideal for borrowers who are looking for a low rate, the flexibility of unlimited overpayments and no early repayment charges plus the security of knowing that their rate will not increase above 2.90% for the first three years.”

Franklin said he expected the capped rates to be popular due to the uncertainty surrounding the stability of the Bank of England base rate.

He added: “And it’s also good news for our members who are looking to buy their first home. We have launched a members only, best buy 3-year fixed rate of 4.19% available up to 90% LTV.

“This great rate, with no arrangement fees, is only available for members who have held an account with us for three years or more. So as always there is something for everyone at the Coventry in our exciting new range.”

The Flexx for Term rates come with a £199 booking fee and an £800 arrangement fee while the Flexx fixed rates cost £199 to book and have an arrangement fee of £500.

The first-time buyer deal has a £199 booking fee, early repayment charges until September 2016 and £500 of Ikea vouchers.