Written By:
Posted:
28/06/2024
Updated:
28/06/2024
Coventry for Intermediaries has cut a range of its fixed rates, with reduced options available for new and existing customers.
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The lender, which is the broker-facing arm of Coventry Building Society, said that it has cut residential rates by up to 21 basis points and buy-to-let (BTL) rates by up to 15 basis points.
The mutual said that three- and five-year fixed rate products are available for residential applications, with options from 65% to 95% of the property’s value.
What’s new?
Highlights of the new range include:
- A 5.34% two-year fixed rate up to 85% loan to value (LTV), with £500 cashback – available for first-time buyers only
- A 4.59% five-year fixed rate up to 65% LTV – available for residential remortgage with the option of £350 cashback or use of the lender’s remortgage transfer service
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “We’ve reduced the majority of our fixed rates, further improving the choices we offer. It gives brokers a great opportunity to engage with their clients and advise them of the best options available.”
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Earlier this year, the lender loosened its landlord lending criteria.
