New 5 & 7 year fixed residential mortgages

Coventry for Intermediaries has launched a new range of seven year fixed residential mortgages this week, thought to be the lowest rates currently available on the market.

Including a rate of just 1.99%, the range is available up to 50% loan to value (LTV) or at 85% LTV with a 2.55% rate. These both come with a £999 arrangement fee.

The Coventry has also reduced rates across its existing two and five year residential products, as well as launching a new 10 year fixed rate from 2.39%. Available up to 50% LTV, or with a rate of 2.69% with no arrangement fee, and 2.49% up to 65% LTV (or 2.79% with no fee).

Elsewhere on the market, some lenders have been launching high LTV offers with reduced rates, including a new offer from Furness Building Society. The lender has revealed two new variable rate mortgages at 90% LTV, with a rate of just 1.99% for two years.

This is available with a £1,499 fee for the 1.99% rate, or with a rate of 2.45% and a £999 fee. These are available for both purchase and remortgage customers, with a free legal package included for remortgages.

Both the products also come with a 2% early repayment charge, which drops to 1% in the final year.

Leeds Building Society has also revealed a new selection of five year fixed rates at 2.45% with a £999 fee, or at 2.55% with a £199 fee, all available up to 75% LTV and comes with free standard valuation.

Leeds BS was not the only lender to do so, however, with Accord Mortgages also launching a new range of five year fixed remortgage products.

The range includes a rate of 2.24% at 75% LTV, 2.44% at 80% LTV and 2.6% up to 85% LTV. Each product comes with £250 cashback on completion and free standard valuation, with an £845 product fee.

In addition, Accord has also reduced rates for their two year fixed remortgage products by up to 0.15%. These now start from 1.44% at 65% LTV or 1.54% up to 75% LTV, both with an £845 fee and free standard valuation and legal fees.

Arrange to speak to an Enness Broker