It also reduced selected BTL rates and added new products
Coventry for intermediaries has reduced all residential fixed rates by up to 63 basis points (bps) and selected buy-to-let rates by up to 55bps.
The lender also reintroduced new products, including three-year fixed rate and 65% loan-to-value (LTV) options for residential applications, and 75% LTV options for buy-to-let applications.
There is also a 6.05% two-year fix at 65% LTV with a £999 product fee that is available for residential purchase and remortgage, and a 6.15% two-year fix at 65% LTV with a £1999 product fee that is available for buy-to-let purchase and remortgage. Both products have an option of a £350 cashback or a remortgage transfer service for remortgage.
“We’re keeping a close eye on the market with an aim to support our intermediary partners and their clients with rate reductions wherever possible,” said Jonathan Stinton (pictured), head of intermediary relationships at Coventry Building Society.
“Certainty remains appealing to many borrowers, especially in these current economic times, so we’ve reintroduced our popular three-year range to give people options alongside our competitive two- and five-year deals.”
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