Coventry Building Society predicts popularity for fixed rate mortgages

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Coventry Building Society predicts popularity for fixed rate mortgages

Fri 21st Jan 2011

An increasing number of consumers may opt for a fixed rate mortgage in the coming months, according to a source from Coventry Building Society.

Colin Franklin, sales and marketing director at the company, made his comments after the firm announced its Intermediaries arm is cutting the interest rates on several home finance products.

He said: "With an increase in interest rates potentially on the horizon, fixed rate and capped tracker mortgages are likely to be in high demand."

Coventry Building Society Intermediaries revealed it has dropped the interest rates on a selection of mortgages, including capped tracker residential and buy to let deals.

The rates on these arrangements have been reduced by up to 0.55 per cent, with Mr Franklin claiming the move will make them accessible to more consumers.

Two new five-year fixed rate, buy to let products were recently unveiled by the company at 4.99 and 5.39 per cent interest for up to 50 and 65 per cent loan to value respectively.

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