Coventry for Intermediaries has unveiled a new range of residential mortgages, offering £500 cashback for home movers and first time buyers.
The four cashback products, available on its two-year and five-year fixed rate mortgages, range between 85% and 90% loan to value (LTV).
New deals include:
- 2.15% two-year fixed until 30/06/20, 85% LTV, ERCs payable until 30/06/20 and a £999 product fee;
- 2.19% two-year fixed until 30/06/20, 90% LTV, ERCs payable until 30/06/20 and a £999 product fee;
- 2.29% five-year fixed until 30/06/23, 85% LTV, ERCs payable until 30/06/23 and a £999 product fee;
- 2.45% five-year fixed until 30/06/23, 90% LTV, ERCs payable until 30/06/23 and a £999 product fee.
The cashback incentive will be paid directly to borrowers within 30 days after completion of their mortgage.
The Society has also reduced rates by 0.10 percentage points on its five-year fixed residential, offset and first time buyer members’ only mortgages.
Kevin Purvey, director of intermediaries, said: “Our £500 cashback incentive on our two-year and five-year fixed rate mortgages will help customers with the cost of moving home, something which proved very popular with our intermediaries last year.”