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Coventry Building Society
This society has a history going back to 1884 and is still based in its home town of Coventry, it remains a mutual society that works for the benefit of its members and is committed to remaining independent. In 2009 the Society has assets of £18billion and over 1million customers - it is now the third largest building society in the UK and claims to have customers in every UK postal code area. In March 2010 The Coventry Building Society announced that it will be merging with the Stroud and Swindon Building Society although it will still retain its brand name there will now be over 1.5million members of the Society and 91 branches offering a personal service to both new and existing customers.
The Coventry Building society offers a full range of financial services including current accounts, home and travel insurance, savings accounts and mortgages. Customers who are first time buyers, moving home, buy to let investors or remortgaging can all apply for a Coventry Building Society mortgage.
First time buyers who do not have a deposit may be able to apply for a Step Up mortgage, this product enables up to four people to be included in the application and is designed so that family members can assist new home owners to buy their first property. The maximum loan under this scheme is £250,000 and you might be able to borrow up to 90% of the property's value. Some products may offer a £500 IKEA voucher upon completion of the home buying process as a moving-in gift from the society.
If you are looking to change your mortgage lender or remortgage your house then the Coventry Building Society offers a transfer service that aims to help make this process as easy as possible. You can take advantage of cheaper rates or new terms and conditions by switching your mortgage lender. Speak to your advisor to see what special offers may be available to new customers who transfer their mortgage to the Society. As you will usually have equity available in your home that will count as the deposit you can benefit from the best interest rates.
Buy to let investors can apply for fixed, flexible or tracker mortgages, new and experienced landlords are welcomed by the Coventry Building Society.
Coventry Building Society Mortgage Products
First Time Buyer mortgages: Buyers who have a deposit available are able to choose from the Society's full range of mortgage products including fixed rate, discount rate and tracker. Buyers who do not have a deposit or do not fit the usual lending criteria might consider a step up mortgage if there are close family members who are willing to help out.
Owner Occupier mortgages: Potential customers who want to switch their mortgage provider can apply to the Coventry Building Society. This process can sometimes be completed in as little as 10 days and there are various incentives such as free legal fees and valuations included with some products.
Buy to Let mortgages: You can borrow up to 60% of the property value and choose a mortgage product that suits your needs. Customers are also able to remortgage existing properties to take advantage of better rates.
If you are interested in a mortgage quotation including those offered by Coventry Building Society please complete our quick enquiry form.
Coventry Building Society Mortgage Rates
|Mortgage Type||Initial Rate||Subsequent Rate||APR||Max LTV||Fees & Charges||Enquire Now|
|5yr Fixed First Time Buyer Member Rate||5.99% Fixed||4.49% Variable||5.3%||90%||Consult your advisor|
|Flexx for Term Rate||3.35% Variable||3.35% Variable||3.5%||65%||Consult your advisor|
|2yr Fixed rate Buy to Let||4.59% Fixed||4.74% variable||4.9%||60%||Consult your advisor|
Speak to a professional about a Coventry Building Society Mortgage