Coventry for intermediaries has introduced new two and three-year fixed rate products at 90% loan to value (LTV).

These new products will join the five-year fixed rate options already available at this LTV bracket.

The lender says that a number of these products are specifically aimed at supporting first-time buyers and come with £500 cashback.

Meanwhile, selected residential rates have also been reduced by up to 16 bps.

New deals include:

• 5.95% Three-year fixed rate to 30/04/27, 90% LTV, no product fee and £500 cashback – available for first-time buyers
• 4.85% Five-year fixed rate to 30/04/29, 65% LTV with a £999 product fee – available for residential purchase

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Following broker feedback, we’ve enhanced our higher loan to value product range with a particular focus on supporting first time buyers.

“The security of fixed rates make them a popular option for many new borrowers, and having rates available for two, three and five-years means people looking to get on the ladder will have more choices available to them.”