Coventry Building Society has launched a new range of mortgages for first time buyers at up to 90% LTV, with low flat fees and what it describes as excellent rates.
The new range for first time buyers include a 5.19% loan fixed until 30/09/17 at 85% LTV, with a £199 booking fee and £300 arrangement fee and a 5.39% loan fixed until 30/09/17, at 90% LTV with a £199 booking fee and £300 arrangement fee.
For those who already use the building society there is a member’s first time buyer mortgage at 5.19%, fixed until 30/09/17 at 90% LTV with £199 booking fee and no arrangement fee and £500 IKEA Gift card issued on completion.
To qualify for the member’s mortgage the applicant or their family such as grand parent, parent or guardian must have held a Coventry savings, Coventry current account or in the case of grand parent/parent or guardian a Coventry mortgage with the lender continuously for the last three years or more at the time of application.
‘We think that first time buyers deserve some help when they're starting out. Our new First Time Buyer range offers a winning combination of low, flat fees and a competitive fixed rate for those early years when payment stability is so important. With options available up to 90% LTV, it's getting easier to realise your dreams of home ownership,’ said Colin Franklin, sales and marketing director at the Coventry Building Society.
‘But that's not all. We think it's important to support our existing members, their children and grand children. That's why our Member's First Time Buyer Mortgage offers such a good deal.
As well as low flat fees, all of our products include a valuation up to £670. So whatever you're looking for, we are confident that our new First Time Buyer range has something to offer,’ he added.