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Coventry launch 10 year fix at 2.39% (50% LTV)
SavingSteve
Posts: 486 Forumite
It's started... Low rates here we come :beer:
Realistically this will be useful only for remortgagers with a lot of equity. A 65% LTV version also available at 2.49%
Guardian article
Realistically this will be useful only for remortgagers with a lot of equity. A 65% LTV version also available at 2.49%
Guardian article
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Comments
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Is this repayment only does anyone know, I am trying to source it and can't get it up on I/OI am a Mortgage & Protection Broker
MSE doesn't check my status so you have to take my word for it. Any information posted is for discussion only and should not be seen as advice. I am FCA Registered, registration details available on request.0 -
Meh just had it confirmed its repayment only.I am a Mortgage & Protection Broker
MSE doesn't check my status so you have to take my word for it. Any information posted is for discussion only and should not be seen as advice. I am FCA Registered, registration details available on request.0 -
Does anyone do I/O anymore?0
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Lenders that do will apply conditions and also will require a repayment plan. For the vast majority of people repayment mortgages are now the default option. (Around 96% of new mortgages are now repayment to illustrate the point more clearly).0
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Yes lenders will do interest only.
They will also do sale of mortgaged property as a capital repayment strategy given sufficient equity.
Interest only, where available, is tricky to obtain, with a number of additional angles that need to be managed.I am a Mortgage Broker
You should note that this site doesn't check my status as a Mortgage Broker, 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 -
I've done a few I/O's only on residential properties and they have been fine. Once was difficult due to the applicant's net income being significantly reduced, but I got it through in the end. Took 3 attenpts with different lenders.I am a Mortgage & Protection Broker
MSE doesn't check my status so you have to take my word for it. Any information posted is for discussion only and should not be seen as advice. I am FCA Registered, registration details available on request.0 -
Have you done them recently? As Thrugelmir states, they are few and far between these days.0
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Sorry that was they ke word I missed out. I've done 4 since April that have all offered and checking my pipeline I have had 14 offers through since April. So that's aout 28% of my business in last 3 months.I am a Mortgage & Protection Broker
MSE doesn't check my status so you have to take my word for it. Any information posted is for discussion only and should not be seen as advice. I am FCA Registered, registration details available on request.0
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