Coventry for intermediaries has lowered certain new business residential rates by up to 22 basis points (bps).

A number of these products are specifically aimed at supporting first-time buyers and come with £500 cashback.

First-time buyers who are buying a home with a CV postcode – in and around the Society’s home city -can get £1,000 cashback.

In addition, selected new business buy-to-let rates have also been reduced by up to 26bps.

Highlights include:

• 5.41% two-year fixed rate to 31.08.2026, 90% LTV, no product fee and £500 cashback – available for first-time buyers.
• 4.79% five-year fixed rate to 31.08.2029, 75% LTV, no product fee – available for buy-to-let remortgage, with the option of £350 cashback or use of the lender’s Remortgage Transfer Service

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Many of our rates are reducing, with some of our biggest reductions going to options most suited for first-time buyers. As well as competitive rates, many of these deals also come with cashback which could be handy to help new buyers with moving costs.

“We’re also launching new deals which offer £1,000 cashback for any first-time buyers who are buying a home with a CV postcode. We’re proud to be supporting first-time buyers up and down the country with a little extra for those looking to take their first step on the housing ladder in our home city.”