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Coventry SVR any good?
ianr900
Posts: 6 Forumite
After scouring the various on line resources for a good mortgage rate, the Coventry BS standard variable rate (currently 4.89%) seems good at the moment, but is it better to go with a rate related to the BOE base rate? Is it inevitable that the Coventry will put their SVR up higher than the BOE + 0.39 in the long run making a mortgage tied to the BOE a safer bet?
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Comments
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From my research the Coventry BS SVR = 6.59%
I would avoid any variable mortgage rate that doesn't track the BOE because the Society could change their rates at any time and by any amount.
If you want a good BOE tracker you could try the Nationwide tracker which is 0.29% above the BOE rate.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0 -
The coventry's customer service is very good.
They take about two weeks from application to mortgage offer.
Have you looked at their offset rates?
They currently offer a 4.99% capped rate and a 4.99% fixed rate.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0
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