Coventry launches new mortgage for first-time buyers
www.moneynews.co.uk > Mortgages > Coventry launches new mortgage for first-time buyers
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Money News |
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Coventry launches new mortgage for first-time buyers
Mon 6th Jun 2011
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The building society has announced the launch of a unique five-year fixed-rate product in a bid to offer support to struggling first-time buyers.
From tomorrow (June 7th), prospective homeowners will be given the chance to apply for the mortgage deal, which is available at 90 per cent loan to value.
Customers could be reassured by the low upfront fees adopted as part of the new product, with no arrangement charge and £199 booking costs.
Colin Franklin, sales and marketing director at Coventry, said: "With uncertainty over when interest rates will move and by how much, a first-time buyer mortgage that provides certainty over five years is the responsible option."
Earlier this year, the building society revealed parents provide more funding for the adult lives of their children than they initially expected.
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