Coventry launches new fixed rate deals

The new range includes a 3.60% fixed rate until 31 March 2012 at 50% LTV, a 3.75% fixed until 31 March 2012 at 70% LTV, a 5.50% fixed rate until 31 March 2012 at 85% LTV with no arrangement fee and lastly, a 4.99% fixed rate until 31 March 2015 at 50% LTV.

All include a valuation up to £650 and a remortgage legal package.

Colin Franklin, sales and marketing director at Coventry Building Society, said the launch of the products should make a difference to the quiet remortgage market.

He added: "On a £150,000 repayment mortgage currently paying 5.99%, remortgaging to our 3.60% deal will save nearly £4,000 over 2 years. And for those who believe that interest rates will rise in 2010, and that house prices may level off or drop back, this is the time to fix."