coventry building society Deals & Sales for 2016 - HotUKDeals
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coventry building society Deals & Discounts

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88

Coventry Building Society Mortgage 2.00 APRC 85% LTV

15
I’m on the hunt for a first time buyers mortgage and this seemed like by far and the best deal I could find on the market. Their Flexx for Term mortgage is essentially, max 85% LTV at 1.89% with t…
FrugalFergal Avatar2w, 3d agoFound 2 weeks, 3 days ago15 Comments
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Al666
Have a look at the hsbc fee saver mortgage, same rate and no fees or survey costs. I'm trying to arrange it at the moment.
It's a fixed rate for 2 years.
Thus ones seems set indefinitely
Are we saying this looks like a good deal then for a first time buyer? Most other options seem to be around the 3% APR mark. I suppose one thing to note is that it racks their own interest rate not BoE. They could theoretically increase it at any time.
dimuc
any tips for buy to let with high LTV ?


What Loan to Value are you looking for on the BTL?

Edited By: Funghi on Nov 17, 2016 20:24: Typing error
any tips for buy to let with high LTV ?
Big fan of Coventry. Have a look at their offset mortgages too.
609

5 year fee-free fixed mortgage 1.99% @ Coventry BS (50% LTV)

67
This is the same rate as the First Direct and HSBC deals but has no associated fees. However, it requires a 50% LTV so only suited to those with big deposits or plenty of equity in their homes.
marathonic Avatar3m, 2w agoFound 3 months, 2 weeks ago67 Comments
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malcolmleyland
Jesus. I can remember paying 15% in the 90s. Hope those days dont come back for all the younguns. I went from paying £200 a month to £450 a month on 30k mortgage. Imagine that kind of pro rata rise today. Dont take on too much, trust me.


​Agree, my first mortgage in mid 80s was 12.5% and went up to 16% for a time. I remember then being amazed at the 8.99% five year fix we got in around 95.
Thanks Marathonic for your advice.
tissues77
Which one is better for £150k remortgage
1) 1.74 no fee fixed for 2 years with hsbc
2) 1.74 lifetime tracker with £999 fee with hsbc.
I only have 10 years left on my mortgage.

There is no guarantee as to which is better as interest rate expectations could change in the next few years.

However, with current expectations of no rises for 4-5 years, I'd be more tempted by the lifetime tracker. A £999 fee only represents 0.66% of your outstanding balance and, for that, you'll get a good rate for life.

You'll find that, as you approach the end of your mortgage term, it gets harder and harder to secure a good rate because the fees or costs of moving are too high compared to your outstanding balance. It's for that reason that the lifetime tracker would be the choice I'd go for.
Which one is better for £150k remortgage
1) 1.74 no fee fixed for 2 years with hsbc
2) 1.74 lifetime tracker with £999 fee with hsbc.
I only have 10 years left on my mortgage.
Thanks SewerSide.
591

10 year fee-free fixed mortgage 2.69% @ Coventry BS

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This is 0.1% lower rate than the recent HSBC deal, however it does require 50% LTV. I make this the cheapest fee-free 10 year fix I've ever seen. Valuation up to £670 is also free. Note they also…
HangTime Avatar4m, 3w agoFound 4 months, 3 weeks ago25 Comments
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vod
Gordinho
pikeybaby
I've been saying on h.UK.d for years that interest rates are going nowhere for years. History tells you I am right. Japan, with its interest rates at or on zero percent for 20+ years tells you that I am right. Great Britain PLC is bankrupt and a rise in interest rates would send us over the edge. The only way interest rates are going anytime before 2025 is down - you can bank on it, literally
Should I start overpaying my mortgage now or wait until the rates drop? (Which I believe is inevitable)
If looking to overpay, doing it sooner is better than later regardless of your current rate. Assuming no charges of course.
Nationwide BMR, am I correct in saying that the higher the mortgage rate the greater the saving is if you overpay?
Gordinho
pikeybaby
I've been saying on h.UK.d for years that interest rates are going nowhere for years. History tells you I am right. Japan, with its interest rates at or on zero percent for 20+ years tells you that I am right. Great Britain PLC is bankrupt and a rise in interest rates would send us over the edge. The only way interest rates are going anytime before 2025 is down - you can bank on it, literally

Should I start overpaying my mortgage now or wait until the rates drop? (Which I believe is inevitable)


If looking to overpay, doing it sooner is better than later regardless of your current rate. Assuming no charges of course.
pikeybaby
I've been saying on h.UK.d for years that interest rates are going nowhere for years. History tells you I am right. Japan, with its interest rates at or on zero percent for 20+ years tells you that I am right. Great Britain PLC is bankrupt and a rise in interest rates would send us over the edge. The only way interest rates are going anytime before 2025 is down - you can bank on it, literally

Should I start overpaying my mortgage now or wait until the rates drop? (Which I believe is inevitable)
arjun311
Holdddddd until next week at least. There is a good chance bank of England will announce cutting the base rate slightly.

Not exactly. Carney said they will be assessing things at the July meeting with a view of acting in August.

I agree that waiting is the right thing to do right now but I'm not entirely sure a rate cut is coming. The langauge from the BOE has been such that they may look at more tinkering type policies like QE or the funding for lending scheme. There was a reason why they didn't cut rates below 0.5% through the crisis and that was to leave themselves some margin for any big shocks. Despite Brexit being a big event, the effects of it will come out over time, not after 5 minutes, thus it's not the big shock they'll need to immediately cut rates for.

I'm not ruling cuts out but am of the view they'll be a last resort option.
pikeybaby
I've been saying on h.UK.d for years that interest rates are going nowhere for years. History tells you I am right. Japan, with its interest rates at or on zero percent for 20+ years tells you that I am right. Great Britain PLC is bankrupt and a rise in interest rates would send us over the edge. The only way interest rates are going anytime before 2025 is down - you can bank on it, literally
Agree, I can only think of 2 reasons to have a base rate above zero, to cool an overheating economy or to artificially defend your currency to boost its value. Neither are gonna happen any time soon.
63

10 year fixed rate mortgage 2.39%, max 50% LTV, £999.00 fee @ Coventry building society

12
The lowest 10-year mortgage rate on record is set to be launched on Friday, and more cuts could be on the cards as lenders take advantage of falling money markets to offer cheap deals. Coventry Bui…
Daywalker04 Avatar4m, 3w agoFound 4 months, 3 weeks ago12 Comments
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Good deal, unsure why it's not hotter
maxwtaylor
Did anyone find out whether over payments are allowed? Normally it is 10
% per year of the principal amount but it does not say in the details.

"You can repay up to 10% of the capital p.a. without an early repayment charge."
Did anyone find out whether over payments are allowed? Normally it is 10
% per year of the principal amount but it does not say in the details.
I borrowed a tenner from my dad in the late nineties and he's never asked for it back. Best lender by a mile.
Have given heat as appears to be best deal right now, and I know low interest rates won't last forever, but aren't there decent odds on an even better fixed rate if there is a Bank of England interest rate cut as most experts seem to predict? Worth waiting if you can?
214

Coventry Offset Flexx for Term lifetime mortgage - only 1.85% + Offset benefits! £999.00

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Most trustworth mortgage provider in the history of Great Britain. Cheapest lifetime mortgage in the UK with Offset benefits. Max LTV 65% so only needs 35% equity. 1.85% flexx for term lifetime.…
good Avatar7m, 6d agoFound 7 months, 6 days ago31 Comments
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I am going for a similar but slightly different one from the same lender: Offset +1.19% Bank Base Rate Flexx Tracker to 30.06.18 (top of the list here ..currently 1.69% which I think it's a better deal but of course for a different timeframe, hey will think about that in 2 years time!
winchman
newb
chapati_monsta
winchman
It's just the fact that it's not fixed to anything, I'm pretty certain it is 1.85%, it is not base rate plus 1.35%. I know base rate plus 1.35% is 1.85% but there is no fixed part to the rate, they can charge what they like within reason.
Not quite AFAIK - this is a lifetime tracker. Although the rate will go up and down in line with Bank Base Rate, Coventry will not have the right to change the loading above BBR apart from 'in exceptional circumstances'. Very unlikely but check the mortgage conditions.
​you are wrong.
this is a variable rate with no defined link to the BOE base rate.
"Variable rate for term, currently 1.85%"
As you say not tied to anything, but there is no history of them going crazy with rates, so would like to think it would be ok, but down to trust and the bad PR they would get if they did decide to fiddle.
sorry - you are right, fully at the behest of Coventry's decision makers!
newb
chapati_monsta
winchman
It's just the fact that it's not fixed to anything, I'm pretty certain it is 1.85%, it is not base rate plus 1.35%. I know base rate plus 1.35% is 1.85% but there is no fixed part to the rate, they can charge what they like within reason.
Not quite AFAIK - this is a lifetime tracker. Although the rate will go up and down in line with Bank Base Rate, Coventry will not have the right to change the loading above BBR apart from 'in exceptional circumstances'. Very unlikely but check the mortgage conditions.
​you are wrong.
this is a variable rate with no defined link to the BOE base rate.
"Variable rate for term, currently 1.85%"
As you say not tied to anything, but there is no history of them going crazy with rates, so would like to think it would be ok, but down to trust and the bad PR they would get if they did decide to fiddle.
Ian182
bobcoyle77
check out cashback sites for free advice and additional money back.

Don't think I want mortgage advice from a cashback site thanks.


​you don't get mortgage advice from a cashback site Ian, you get suppliers who offer cashback. like car insurance, clothing, etc etc. I'll get you some crayons and draw you a picture.
chapati_monsta
winchman
It's just the fact that it's not fixed to anything, I'm pretty certain it is 1.85%, it is not base rate plus 1.35%. I know base rate plus 1.35% is 1.85% but there is no fixed part to the rate, they can charge what they like within reason.
Not quite AFAIK - this is a lifetime tracker. Although the rate will go up and down in line with Bank Base Rate, Coventry will not have the right to change the loading above BBR apart from 'in exceptional circumstances'. Very unlikely but check the mortgage conditions.


​you are wrong.
this is a variable rate with no defined link to the BOE base rate.
"Variable rate for term, currently 1.85%"
-108

Conventry Mortgage 1.69% for life at 65% LTV £999.00

16
Cheapest I can see for Life Time Tracker deal. No early repayment charge
ChickenDinner2000 Avatar1y, 2m agoFound 1 year, 2 months ago16 Comments
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nbgrobbo
santafan
Actually lenders cannot change their SVR 'at their whim' in the regulated environment
I'm sure you can point us to that piece of legislation?

Look mate, if lenders can change SVR to whatever they like why don't they charge 20% instead of 5%.

Lenders rate are constantly regulated by the PRA, obviously.
santafan
Actually lenders cannot change their SVR 'at their whim' in the regulated environment

I'm sure you can point us to that piece of legislation?
For the people making negative comments.....

Are they actually British and know the history of Coventry Building Society?

Coventry did not survive 150 years by scamming its customers and randomly raising rates.

Edited By: ChickenDinner2000 on Sep 18, 2015 19:15
Actually lenders cannot change their SVR 'at their whim' in the regulated environment
davewave
nbgrobbo
davewave
nbgrobbo
Yep, it's variable, so can change at any time, you can also guarantee it won't reduce as quickly as it rises. If I don't want a fixed (never bothered with one), I would take the transparency of a tracker, rather that a variable rate.
a tracker is a type of variable rate
No it's not, a tracker rate doesn't change, the underlying base rate does, therefore total cost, whereas this rate varies at the whim of the lender.
Semantics: a tracker rate is variable, pegged to the base rate and therefore not fixed.

You'll get it one day, if you ever do work in the industry for the last 21 years. :|
65Expired

Offset AND tracker mortgage at only 2.75% with tiny £699.00 fee from Coventry Building Society

30
This is a stonking deal for those with 65% LTV. Given inflation is running at around this level in real terms they're lending you money for free with no early repayment charge!!! This means if rates r…
zchari5 Avatar3y, 3m agoFound 3 years, 3 months ago30 Comments
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illy1965
zchari5
garethsmith72
morpheus
Think i'll stick with my 2.69% fee free lifetime tracker thanks ;p
lol I have a portable base plus 2% for 25yrs..
I'm sure some people are paying 0% interest by getting the mortgage pre-crash (ie pre 2008) when you had base rate MINUS a certain % available on some mortgages. However these deal are no longer available AND you would have had to have suffered the drop in house prices post 2008 to get them. Madness!
I disagree with your last part I purchased my house in 2007 and got a tracker mortgage that is 0.5℅ above base rate and my house is worth more now than it was then
Mines also portable so I moved took x that was o/s on 0.5 plus base rate, and the remaining additional amount on a fixed rate.
After some advice from the financially minded. I have a property that is let and it has a offset tracker with 1.35% above base. Currently we have more savings than we do mortgage. The property we live in is on bank of Scotland standard rate 4% loads left to pay on it. I was thinking it would be shrewd to move money around between the mortgages. Also which one would you pay off first? Thanks
zchari5
garethsmith72
morpheus
Think i'll stick with my 2.69% fee free lifetime tracker thanks ;p
lol I have a portable base plus 2% for 25yrs..

I'm sure some people are paying 0% interest by getting the mortgage pre-crash (ie pre 2008) when you had base rate MINUS a certain % available on some mortgages. However these deal are no longer available AND you would have had to have suffered the drop in house prices post 2008 to get them. Madness!

I disagree with your last part I purchased my house in 2007 and got a tracker mortgage that is 0.5℅ above base rate and my house is worth more now than it was then
This could be handy as I am coming out of a fixed deal in Dec and need to start looking about !!!

I have always wondered whether an offset mortgage would be good for us as we have quite a bit of savings which are shifted about each year in Isa's but not really earning a lot of money..... Just a thought though if I am re mortgaging would I be able to borrow more than I need to pay off my current mortgage provider so I could build a 2nd story extension to my property? If so I presume that the LTV would only be calculated prior to the extension being built hence the property value would be as it is now??
PPS that's why it is important to agree on lending the maximum amount of money you can to hit a 65% LTV even if you don't need it and also specifying a term that is as long as possible so you essentially have a humongous pre-agreed overdraft facility charging minimal amounts of interest for decades to come. If you don't want the mortgage there's no early repayment fees on offsets so you can just switch and walk away.
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59Expired

Poppy Online Savings Account 3.15% interest (Min investment £1.00) @ coventrybuildingsociety

7
Was looking at savings accounts and this one of 3.15% gross seemed like a great rate at the moment. You get four free withdrawals each year and £10 gets donated to the Poppy Appeal for every £20…
Chewchewcheroo Avatar5y, 4m agoFound 5 years, 4 months ago7 Comments
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Government index linked bonds issue 48 is also worth a look as they're tax free.
Not a bad rate and a very good cause.
No doubt it's a top rate in todays climate, keeping it in mind.
Adding a little more poppy heat!


Edited By: freddysmith on Aug 02, 2011 20:27
This is the best rate out at the moment(think it allows 4 non penalty withdrawls a year). Have signed up - bit of rigmarole going through all the application forms/passwords etc to get the account up and running...
kemik
Have you maxed your ISA allowance already if not might want to consider at least a cash ISA first maybe?


Yeah all max'd out I'm afraid :( although I don't think ISA's are getting that much interest anyway are they?
65Expired

A cash ISA with a guaranteed rate of 3.25% until 31.05.2011 @ coventry building society

5
Effective from 31st March 2010 Annual interest Monthly interest Balance Tax-free p.a./AER. AER Tax-free p.a. £5,100 plus 3.25% 1yr. No transfers.
zippy22 Avatar6y, 7m agoFound 6 years, 7 months ago5 Comments
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funguy03;8480716
Anyone remember the 10% halifax regular saver? I found the deal on here. How good was that, and only two years ago!


A LOT has changed in 2 years, including Halifax going broke :roll:
Anyone remember the 10% halifax regular saver? I found the deal on here. How good was that, and only two years ago!
No withdrawls other than if you want to close the account either. Oh well.
no transfer of existing ISA so not for me .. but a good rate for those wanting to start one.
Not bad, i opened mine with barclays with 3.1%, my old ones with WBBS fet 0.1% interest!!
70Expired

Coventry Building Society (Fixed Rate Bond 116) 4.00%

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Coventry BS are offering a fixed rate until August 2010 paying 4.00% gross. NOTE: This is not available until Friday 8th May. Fixed Bond (116) Operate either via Branch, post or telephone. Min…
Guzumper Avatar7y, 6m agoFound 7 years, 6 months ago4 Comments
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Great deal / great rate. Well spotted. HOT.
Just a fraction behind the Members only Bond paying 4.1% I took out a few weeks back (I am presuming this is still available) - if you are an existing member (savings or mortgage), this is unmissable!
Good deal if you have already taken out the West Brom 4.3% bond.
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