Coventry Building Society offers 100% mortgages

Coventry Building Society has thrown a lifeline to customers in negative equity after becoming the first lender to offer re-mortgage deals worth 100% of a property’s value.

Coventry customers who took out loans of up to 125% of their property’s value would have been forced to revert to the lender’s standard variable rate (SVR), currently 4.74%, after their mortgage deal expires, reports The Times.

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