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Coventry Building Society announces tracker mortgage

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Mortgage lender Coventry Building Society has announced a new tracker mortgage at 2.49 per cent as well as a range of fixed-rate deals available to wide array of customers.

The tracker mortgage has a current rate of 2.99 per cent capped at 4.99 per cent until 2012 and is available with a 50 per cent deposit .

New fixed-rate mortgages include two, three, five and ten-year deals from 4.49 per cent and a �199 fee, which are available to first-time buyers as well as those looking to remortgage .

All of the new products include a free valuation and a free legal package for people hoping to remortgage.

Colin Franklin, head of sales at Coventry Building Society, said: The Coventry created quite a stir when we launched new capped trackers earlier this year. Offering this flexible product at a current rate of 2.99 per cent is a very attractive deal.

Professional advice website Unbiased.co.uk recently warned that tracker option customers were not making the most of the service, which they could do by overpaying on their mortgage .

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