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Godiva Mortgages Launches New Mortgage Deal

25/06/2007

Godiva mortgages have launched a new type of mortgage deal in the market . It is a flexible fixed-rate deal created to give borrowers an easy way up the property ladder.

Coventry building society's specialist-lending arm has launched a 2-year product with an interest charge of 6.44 per cent and a loan-to-value (LTV) of 95 per cent via the mortgage deal.

In this new mortgage deal there are no early repayment or higher lending charges, the deal comes with a £199 booking fee and leaves borrowers the option of making overpayments if they choose they wanted to.

Managing director from Godiva, Colin Fanklin explained that the new product offered borrowers the flexibility and combination, it also in addition offers security. He said the product was mainly aimed at home movers and first-time buyers.

Ray Boulger not long ago testified to the popularity of 100 per cent mortgage deals among first-time buyers. He explained that this type of deal would get young professionals on the property market faster than a lower LTV product.