Coventry for intermediaries cuts residential rates

Coventry for intermediaries has cut several rates on their residential mortgage range, with the most of the changes coming in at 75% loan to value and above.

“Rates have been cut by up to 16 basis points at 75% and 90% LTV, while its 80% and 85% LTV ranges have seen reductions by up to 20 basis points.” says the mutual’s broker-only arm.

These changes will take effect today, apply across its purchase, remortgage, product transfer and further advance ranges.

The lender also states that these products also include a standard valuation up to £670 and its remortgage transfer service, where applicable.

The business says highlights of the residential range include a 1.89% two-year fixed to 30 June 2023 with early repayment charges up until that date. The product has a 75% LTV, no product fee, and is available for remortgage only.

It also offers a 2.99% two-year fixed to 30 June 2023 with early repayment charges up until that date. The product has a 90% LTV, a £999 product fee. It is available for purchase, remortgage, product transfer and further advance.

Coventry Building Society head of intermediary relationships Jonathan Stinton says: “We’ve sharpened our rates to help us continue to support the market. Hopefully, our updated range continues to appeal to brokers and their clients, as there’s plenty of demand out there from clients looking to purchase and those looking to remortgage.”