Coventry for intermediaries has reduced selected residential and buy-to-let mortgage rates by up to 12 basis points.

The new rates launch today and include reduced options for both new and existing customers.

Among the residential changes is a 5.52% five-year fixed rate to 30 November 2031 at 95% LTV, with no fee. The product is available to first-time buyers and comes with £500 cashback.

Coventry has also introduced a 5.23% five-year fixed rate to 30 November 2031 at 75% LTV for limited company buy-to-let borrowers. The product comes with a £1,999 fee.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “With borrowers and brokers closely watching every rate movement in what’s been a fast-moving market, small changes can make a difference to advice.

“By reducing rates across key residential and buy-to-let products, we’re giving intermediaries more choice when recommending the most suitable solutions for their clients.”