Coventry Building Society improves interest rates on mortgage range

Coventry Building Society has improved the interest rates on its highly competitive MOREgage product range.

The Society’s MOREgage product is a combined mortgage and unsecured personal loan that gives first time buyers and movers the ability to not only purchase their house, but also the capacity to cover additional associated costs.

The new MOREgage products are:

5.89% Fixed until 31.12.11 up to 125% Loan to Value
5.89% Fixed until 31.12.09 up to 125% Loan to Value

The Society’s Market Leading 115% Loan to Value MOREgage products are still available;

5.79% Fixed until 31.12.11
5.79% Fixed until 31.12.09

Key features of the MOREgage product range are:

No higher lending charge – worth nearly £2,000 on an average UK mortgage
Free valuation up to £650
Option to repay 10% of mortgage balance per annum without penalty
Early redemption charges for mortgage (during benefit period): 4%
No early redemption charge for unsecured personal loan

In addition, the Society has also launched two new Flexx Fixed rate products at 5.60% and 5.80%, both until 31.12.11 (followed by 1.34% Discount off SVR) with free valuation, free legal fees for remortgagors, daily interest and flexible features to its Residential product range.