Coventry building Society has today (9th August 2012) launched a new range of mortgages aimed at first-time buyers, fixed until 30th September 2017, with a maximum loan-to-value (LTV) of 85% to 90%. With low fees and free valuation included, the lender hopes to entice cash-strapped borrowers who want to minimise their outgoings when they purchase their home.
Colin Franklin, Sales and Marketing Director, Coventry Building Society, says: "We think that first-time buyers deserve some help when they're starting out. Our new first-time buyer range offers a winning combination of low, flat fees and a competitive fixed rate for those early years when payment stability is so important. With options available up to 90% LTV, it's getting easier to realise your dreams of homeownership."
One of the new products is aimed specifically at members of the Coventry and their families. As well as an advantageous rate, it also offers the bonus of no arrangement fee and a £500 IKEA gift card upon completion of the purchase.
"We think it's important to support our existing members, their children and grandchildren," adds Franklin. "That's why our Member's First Time Buyer Mortgage offers such a good deal."
Details of the new mortgage products from the Coventry Building Society are: