Coventry Increase Equity Release Mortgage Rates

Announced today are changes to the Godiva Equity Release Lifetime mortgage range (Coventry Building Society). The changes become effective on 23rd July 2009, and see rates increase for all of the four products offered by Coventry Building Society.

The lump sum lifetime fixed rates increase from 6.1% to 6.45% for the early repayment charge lump sum product, and from 6.4% to 6.8% for the lump sum fixed rate that has no early repayment charge at any time.

For those that have been considering a Coventry Equity Release Scheme with a drawdown facility, then rates have gone from 6.35% to 6.75% for the equity release drawdown product that has an early repayment charge period, and form 6.65% to 7% for the Godiva Lifetime Mortgage Drawdown product with no early repayment charge at any time.