Offset mortgages allow borrowers to combine their savings and their mortgage and save money by paying less mortgage interest.
Coventry Building Society have just added a new offset mortgage to their range, which also offers an interest rate of 4.99% fixed until 31st Dec 2007.
The key features of this latest offset mortgage from Coventry Building Society are:
- 4.99% fixed until 31 December 2007
- Followed by +0.75% above Bank of England Base Rate for the term
- Free valuation
- Free legal fees for remortgagors
- Daily interest
- £199 booking fee
- £350 arrangement fee
- Early redemption charges of 2.50% of balance repaid to 31 December 2007
- Option to pay 5.00% per annum without penalty
web: http://www.coventrybuildingsociety.co.uk
tel: (0845) 766 5522