Coventry for Intermediaries has introduced new products to its offset range, including its lowest rate offset product without a fee, a two-year fixed rate at 1.99%.
The expanded range includes two, five and 10-year fixed products up to 85% LTV, as well as the lender’s Flexx for Term products.
New deals include the following:
- 99% offset two-year fixed rate until 31/12/20, 50% LTV, ERCs payable until 31/12/20 and no product fee
- 29% offset five-year fixed until 31/12/23, 85% LTV, ERCs payable until 31/12/23 and a £999 product fee
- 59% offset 10-year fixed until 31/12/28, 75% LTV, ERCs payable until 31/12/28 and a £999 product fee
Kevin Purvey, director of intermediaries at the Coventry, said: “Our expanded offset range includes fixed and Flexx for Term options up to 85% LTV. There are even fee-free products which are ideal for clients looking to keep their initial costs low.
“Our offset mortgages are a fantastic option – they’re simple to manage, they make savings work harder and borrowers could use their savings to reduce their monthly mortgage payments or reduce their term. An offset isn’t just for big savers – a small amount saved regularly can make a big difference.
“We’ve created a short video explaining how our offset works and some case studies to show what type of client could benefit from an offset mortgage – I’d encourage brokers to take a look.”
