Coventry launches offset mortgage

Key features of this fixed rate product are:

- 5.35% fixed until 31 March 2007

- Followed by +0.75% above Bank of England Base Rate for the term

- Free valuation

- Discounted remortgage transfer service

- Daily interest

- £199 arrangement fee

- £199 booking fee

- Early redemption charges of 2.00% of balance redeemed to 31 March 2007

The new product is available to borrowers who want to combine their mortgage and savings to benefit from this increasingly popular type of mortgage.