Coventry Building Society is reducing rates and increasing the LTVs on its residential and buy-to-let fixed rate mortgage ranges.

It is also introducing a new two-year residential fixed rate mortgage at 3.87% available at 65% (up from 50%) LTV with free valuation and free remortgage transfer service.

It has also unveiled a two-year fixed rate buy-to-let mortgage offered at 5.20% with £1250 of fees and a free valuation. This is available at 65% LTV, up from 60%.

The Coventry has also introduced a five-year fixed residential option at 75% LTV.

Colin Franklin , head of sales and marketing at the Coventry and managing director of Godiva Mortgages, said: “These new mortgages offer great value and peace of mind for those customers who may be worried about potential interest rate rises in future and are looking to remortgage now.