It also reintroduces trackers and lowers rates on residential mortgages
Coventry for Intermediaries has launched cashback remortgage products, following broker demand for additional remortgage options.
The lender has also reintroduced tracker products and lowered all residential rates.
Cashback remortgage options are available for residential cases at 65% and 75% loan-to-value (LTV) and buy-to-let and portfolio landlord cases at 50% LTV. These products all offer £350 cashback.
Remortgage products offering the remortgage transfer service instead of the cashback option are also available.
Tracker products are available for residential and buy-to-let mortgages, with options starting from 0.28% above base rate. Residential rates have reduced by up to 90 basis points (bps).
Highlights include:
- 4.35% five-year residential fixed rate to June 30, 2028 at 65% LTV and £999 product fee, with remortgage cashback option available
- 5.30% five-year buy-to-let fixed rate to June 30, 2028 at LTV and £1,999 product fee, with remortgage cashback option available
- 3.78% two-year residential BBR tracker (bank base rate plus 0.28%) to June 30, 2025 at 65% LTV with a £999 product fee and no early repayment charges
Get to know about Coventry Building Society Mortgage Rates offers here.
“Remortgages are going to be an area of major focus for brokers in 2023, so we continue to support our intermediary partners with the introduction of cashback remortgage products,” Jonathan Stinton (pictured), head of intermediary relationships at Coventry Building Society, said. “Products which offer our remortgage transfer service are also still available, giving brokers and their clients freedom to either appoint their own solicitor or use our conveyancing service.
“We’re also supporting the market with reductions of up to 90bps for all residential products, and reintroducing trackers to the range as there’s still a strong demand for flexibility.”
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