Coventry for intermediaries has reduced selected residential and buy-to-let rates by up to 0.12%.

The lender said the new deals launch today, with cuts made across a number of owner-occupier and buy-to-let products.

Residential rates have been reduced by up to 12bps, while buy-to-let rates have been cut by up to 10bps.

A number of the products are aimed at first-time buyers and include £500 cashback.

Among the changes is a two-year fixed rate at 5.24% to 30 November 2028, available up to 90% loan-to-value with no fee. The product is available to first-time buyers and comes with £500 cashback.

Coventry has also launched a five-year fixed rate at 5.35% to 30 November 2031, available up to 95% loan-to-value with no fee. This is also available to first-time buyers and includes £500 cashback.

Jonathon Stinton (pictured), head of intermediary relationships at Coventry Building Society, said: “These reductions bring yet more competitive options to brokers, especially those with clients looking to buy their first home.

“The reduced rates on high LTV products, along with the cashback, offers much-needed extra support to those trying to get a foothold on the property ladder.”

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