On 9 August Coventry Intermediaries is launching a new range of mortgages, which includes a 90% LTV first-time buyer products.
The products are:
First-time buyer mortgages
- 5.19%, fixed until 30/09/17, 85% LTV, £199 booking fee with £300 arrangement fee.
- 5.39%, fixed until 30/09/17, 90% LTV, £199 booking fee with £300 arrangement fee.
Member’s first-time buyer mortgage
- 5.19%, fixed until 30/09/17, 90% LTV, £199 booking fee with no arrangement fee and £500 IKEA Gift card (issued on completion).
To qualify for the Member’s first-time buyer mortgage, the client or their grandparent, parent or guardian must have held a Coventry savings, Coventry current account (in the case of grandparent/parent or guardian – a Coventry mortgage is accepted) continuously for the last three years or more at the time of application.
Meanwhile, Coventry Intermediaries is also launching new products for buy-to-let investors on Thursday:
- 3.59% Flexx Fixed to 31.10.14, 65% LTV, £250 booking fee with £1,800 arrangement fee and no ERCs
- 4.65% Fixed to 31.10.17, 65% LTV, £250 booking fee with £1,800 arrangement fee
- +2.99% BBR Tracker to 31.10.14 (current rate 3.49%), 65% LTV, £250 booking fee with £1,800 arrangement fee
“We think that first-time buyers deserve some help when they’re starting out,” said Colin Franklin, managing director, Godiva mortgages. “Our new first-time buyer range offers a winning combination designed with this type of client in mind. Our range offers low, flat fees together with a competitive fixed rate for those early years, available up to 90% LTV. It’s getting easier for clients to realise their dreams of home ownership.
“We think it’s important to support our existing members, their children and grandchildren. That’s why our Member’s first-time buyer mortgage offers such a good deal. Our Member’s first-time buyer product is unique in this market and fully available through our Intermediary partners. If a client – or their parent, grandparent or guardian – is an existing Coventry member, brokers can now offer them something even more special.
“As well as low flat fees, all of our first-time buyer products include a valuation up to £670. So whatever your clients are looking for, we are confident that our extended range has something for everyone.”
