The broker-only arm of Coventry Building Society has reduced selected residential rates by up to 0.16 percentage points, with lower options available for new and existing customers.
This comes after the lender reduced its ‘stress tests’, giving typical borrowers the chance to borrow up to £35,000 more.
Product highlights include;
- A two-year fixed Rate at 4% to 31.12.2027, up to 50% of the property’s value, with a £999 fee – available for interest only remortgage with option to have £350 cashback or use the Remortgage Transfer Service
- A two-year fixed rate at 3.9% to 31.12.2027, up to 65% of the property’s value,with a £999 fee – available for purchase.
Ben Williams, corporate account manager at Coventry Building Society, said: “We’re continuing our focus on supporting home ownership, and we’re pleased to announce rate reductions for those looking to take that first or next step.
“As well as reducing our rates, we’ve updated our affordability stress testing – meaning some clients may be able to borrow more. These positive changes will help brokers and more of their clients achieve their aspirations.”
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