7 Sep

Coventry promises 'not to offer linked mortgage products'

Coventry promises 'not to offer linked mortgage products'

Homebuyers purchasing a house for sale in the UK are likely to be relieved to hear that Coventry Intermediaries will not try to sell them linked loan products when they take out a mortgage.

Today (September 7th 2010), the financial services firm pledged to offer no linked services to customers, which means that homebuyers will not be required to take out additional products including insurance policies that are often offered with home loans.

It stated that its main commitment is to offer good quality mortgage products, without the tempting sale of other savings and investments extras.

Director of mortgages at L&G Ben Thompson said: "They are standing behind their mortgage products which will live or die depending on how good they are and nothing more complicated than that."

He added that the pledge will help provide "total support to intermediaries".

This comes after mortgage provider Godiva announced its latest loan deals, including a three-year fixed-rate loan at 3.39 per cent, which managing director Colin Franklin said was "attractive to both intermediaries and clients". ADNFCR-1222-ID-800055416-ADNFCR

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