It introduces two-year fixes for new buy-to-let and portfolio landlord customers
Coventry for Intermediaries has launched two-year fixed rates for new buy-to-let and portfolio landlord customers, ranging from 50 to 75% loan-to-value, with fee and no fee options available.
The lender said selected products also have a remortgage cashback option, offering £350 cashback as an alternative to its remortgage transfer service.
The new products include two-year fixes at 50% LTV – one with a £1,999 product fee at 5.39%, and another with no product fee at 6%. Both are available for purchase and remortgage, with a cashback option available for remortgage.
“Adding these products to our buy-to-let range is all about giving brokers and their clients more choice,” Jonathan Stinton (pictured), head of intermediary relationships at Coventry Building Society, commented. “There’s strong demand for shorter term rates, as well as five-year rates, so we’re launching these products to sit alongside our existing five years deals and give our intermediary partners the options they need.”
The intermediary-only lender has recently enhanced its 90 to 95% LTV range by reducing all five-year fixed rates and launching two- and three-year fixed rates across the same LTV range. It also introduced new two-year fixed rate products for existing buy-to-let customers a couple of weeks ago.
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