It drops residential and BTL rates by up to 57 and 39bps
Coventry for intermediaries has reduced rates on all fixes, presenting new and existing customers with repriced options.
The lender’s residential rates have seen a decrease of up to 57 basis points (bps), while buy-to-let rates have received a reduction of 39bps.
Included in the rate cuts is a 4.61% two-year fix at 75% LTV with a £999 product fee, available for residential remortgage, with an option of £350 cashback or the use of Coventry’s remortgage transfer service.
Another product that is part of the lender’s latest reprice is a 4.84% five-year fix at 90% LTV with a £999 product fee – available for residential purchase.
“It’s been a positive start to the year with rate reductions across the board,” Jonathan Stinton (pictured), head of intermediary relationships at Coventry Building Society, said. “It shows there are definite signs of recovery in the market, so new and existing borrowers can hopefully feel some renewed confidence for the year ahead.”
For residential applications, Coventry is offering two-, three-, and five-year fixed rate products, catering to loan-to-value (LTV) ratios ranging from 65% to 95%.
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