Coventry Building Society mortgages – rates and fees comparison
Coventry Building Society offers a range of fixed and tracker mortgages that could be suitable for you.
Coventry Building Society is one of the largest building societies in the UK, with over two million saver and borrower members. Coventry offers a wide range of mortgage packages, often with competitive benefits, and has been awarded a Fairer Finance Gold Ribbon award for its mortgage services for the past five years.
Compare Coventry Building Society mortgages
If you borrow £170,000 over a 25-year term at 1.75% p.a. (fixed) for 62 months reverting to 4.74% p.a. (variable) for the remaining term, you would make 62 monthly payments of £700.04 and 238 monthly payments of £912.95. The total payable would be £261,424.58, which includes interest of £90,685 and a product fee of £495. The overall cost for comparison is 3.6% APRC representative.
What types of mortgages can I get with Coventry Building Society?
- Fixed rate A fixed-rate mortgage provides additional certainty, as your interest rate will remain locked for a set amount of time.
- Remortgages If you’d like to switch from your existing mortgage provider to Coventry Building Socioety, you can do so via one of its remortgage products.
- Offset This mortgage allows you to offset your mortgage interest against your savings. The higher your savings balance, the less mortgage interest you’ll have to pay.
- Tracker With a tracker mortgage, your interest rate will typically be linked to the Bank of England base rate.
- Buy to let You need a buy-to-let mortgage if you want to borrow money to purchase an additional property and let it out.
How to apply
You can apply for a Coventry Building Society by calling 0800 121 8899, visiting a local branch or arranging an appointment with one of its mortgage advisors via its website.
What information do I need to provide?
You’ll need to provide proof of identification, your address history for the past three years, information about your current mortgage and details about the property you’d like to buy.
If you’re employed, you’ll need to show your last three monthly payslips. Self-employed applicants will need to show their last two years worth of annual accounts. You’ll also be questioned about your regular financial income and outgoings.
You must be at least 18 years old to apply, and no older than 75 when the mortgage term is due to end. You must have been employed for the last 12 months, or self-employed for the last 24 months.
If you have CCJs, defaults, arrears, bankruptcies or IVAs recorded against your name in the past six years, your application will be declined.
Compare Coventry Building Society using a mortgage broker
There are huge benefits to using a mortgage broker to help you get the right deal. They will do all of the hard work and research for you. They are experts in comparing the hundreds of loans and lenders out in the market based on your individual needs and eligibility, so you won’t have to worry about being forced into a deal. Your broker will also negotiate with your chosen lender on your behalf to make sure you are getting the right deal for your circumstances.
L&C works with over 90 different mortgage lenders, including Coventry Building Society, giving you a great opportunity to compare different mortgage deals in the market. To apply for a mortgage through L&C click the link below.
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