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Borrowers sent to Coventry

Coventry Building Society has made a stand by cutting rates for borrowers.

It is offering a four-year fixed rate mortgage at 3.98% with a 35% deposit.

The deal bucks the trend as many other lenders have raised their rates in response to inflation fears.

Coventry also has a 3.05% two-year fix deal for those with a 35% deposit and a 3.3% two-year fix for those with a 25% deposit.

Another product its offering customers is a three-year capped tracker deal at the base rate plus 1.99%, for those with a 25% deposit, currently 2.49%.

David Hollingworth, of mortgage brokers London & Country, said: 'Although a little shorter term security than on offer from a five year deal there is only a handful of sub 4% 5 year deals remaining and the rate is very attractive.'

We wouldn’t mind being sent to Coventry if these deals are anything to go by.

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