Coventry launches FTB range

The Society’s MOREgage product is a combined mortgage and unsecured personal loan that gives FTBs and movers the ability to purchase their house and to cover additional associated costs.

The MOREgage products are:

• 5.79% Fixed until 31.12.11 up to 115% loan-to-value (LTV)
• 5.79% Fixed until 31.12.09 up to 115% LTV
• 5.99% Fixed until 31.12.11 up to 125% LTV
• 5.99% Fixed until 31.12.09 up to 125% LTV

Key product features are:

• No higher lending charge – worth nearly £2,000 on an average UK mortgage
• Free valuation
• Early repayment charges for mortgage (during benefit period): 4 per cent
• No early repayment charge for unsecured personal loan
• Option to repay 10 per cent of mortgage balance per annum without penalty

In addition to the MOREgage products, the Society has added a Flexx rate product at 4.85 per cent (rate guaranteed to be no more than SVR) to its Residential portfolio. The Flexx product has no early repayment charges, free valuation, free legal fees for remortgagors, daily interest and flexible features.