Our mortgage service compares Coventry Building Society mortgage rates with other leading UK lenders to help you get the best remortgage deal for your circumstances.
If you’re considering a Coventry mortgage or loan it is a good idea to find out first whether or not you will qualify and how competitive their prices really are. Checking this can save you precious time and money. As an independent broker we offer you a non biased view on whether or not Coventry BS are the best lender for you, in case you’re eligible for their offers, and if there is a better lender based on your requirements.
Coventry Agreement In Principle
If you are looking to remortgage, a mortgage Agreement in Principle (or an AIP for short) is a useful way of seeing how much you can borrow. It will also give you an approximate indication of how much you can remortgage your property for and any additional capital you may wish to do e.g. for home improvements or for debt consolidation purposes.
An Agreement in Principle doesn’t mean you’re committing to a particular mortgage, but provides a useful benchmark of what you can borrow.
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Coventry remortgage deals provide award-winning, innovative and flexible remortgage solutions. Its discounted and fixed-rate products enjoy the competitive rates of a mutual building society, and the free Transfer Service can complete the move in just 10 days.
Coventry Permanent Building Society was formed in 1884, and by World War 1 had become the area’s largest savings provider. The modern Society is the result of a 1983 merger with the Coventry Provident; in 2006 it saw its mortgages and loans total £10 billion, with total assets of £12.3 billion. Following a 2010 merger with Stroud & Swindon Building Society, Coventry is now the UK’s third largest building society and offers a wide range of competitive remortgage deals.
The top Coventry remortgage deals could be a great way to:
- Find a lower interest rate, reducing or stabilising monthly repayments
- Enjoy greater mortgage flexibility, with the option of payment holidays or lump sum repayment
- Free up capital for home improvements or an extension
- Consolidate existing debts
What is a remortgage?
A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:
- Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
- Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.
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