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

16
Found 18th Sep 2015
Cheapest I can see for Life Time Tracker deal.

No early repayment charge
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16 Comments
Title needs editing before you get hammered for the wrong information. 1.19% over base for life
"Don’t be fooled by a slip of the pen when it comes to the marketing of this type of product. For example, Coventry building society is promoting its ‘Flexx for Term’ mortgage deals, which are linked to its Flexx rate. While this is not being marketed as the lender’s SVR, it can also be changed in similar fashion at their discretion."

moneyweek.com/bew…28/
Where do you see it is "1.19% over base"?
It does say "variable", currently 1.69%.
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.
nbgrobbo

Yep, it's variable, so can change at any time, you can also guarantee it … 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
how can this be cold....... this is the BEST rate available......

hm.....
Nun percent interest.
davewave

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.
ChickenDinner2000

how can this be cold....... this is the BEST rate available......hm.....



Because it may not be for them life of the loan. If the bank base rate falls, thus does not necessarily. For those that understand how lenders work, these are not popular products.
nbgrobbo

No it's not, a tracker rate doesn't change, the underlying base 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.
davewave

Semantics: a tracker rate is variable, pegged to the base rate and … 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.
Actually lenders cannot change their SVR 'at their whim' in the regulated environment
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" 18th Sep 2015
santafan

Actually lenders cannot change their SVR 'at their whim' in the regulated … 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?
nbgrobbo

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.
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