Coventry's Flexx rate is over 1.5% lower than their variable rate and will aplly for the life of the mortgage. So why would anyone apply for their standard variable product when it is so much dearer? It seems to be a bargain unless I am missing something.
Coventry Building society - Confused about thier mortgage products
Dec 09, 2003
3 Replies
In message , Rob Beattie writes
Nobody does apply for it. Its what many people end up paying when their 'special deal' expires because most deals, unlike the flexx, only last for a year or so.
Ah so a special deal, say fixed rate mortgage for 3 years will revert to the Flexx deal after the 3 years are up and will continue for the remainder of the term e.g. 17 years of a 20 year mortgage. That still sounds like a good deal. You don't see any catches do you?
In message , Rob Beattie writes
No, its the standard variable product that it reverts to.
If it reverted to the Flexx then NO, if it reverted to the SVR then YES.
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