Coventry for intermediaries has reduced selected residential rates by up to 36bps, with fixed rate options available for 2, 3 and 5 years.

The 95% product range has also been expanded to include 2 and 3 year fixed rate options, which will sit along the 5-year fixed rate options already available in this loan to value bracket.

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

Selected buy-to-let products have been reduced by up to 10bps.

Highlights include:

• 4.86% 5 year fixed rate to 30.04.29, 65% LTV with a £999 product fee – available for residential remortgage, option of £350 cashback or Remortgage Transfer Service.
• 5.58% 2 year fixed rate to 30.04.26, 65% LTV, no product fee – available for residential remortgage, option of £350 cashback or Remortgage Transfer Service.
• 6.39% 2 year fixed rate at 95% LTV, no product fee – available for first time buyers, with £500 cashback.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “It’s encouraging to see that rates are continuing on a downward trajectory, allowing us to pass on value to borrowers wherever we can. We’ve also enhanced our higher loan to value product range with a particular focus on supporting first time buyers.

“The security of fixed rates makes them a popular option for many new borrowers, and having rates available for 2, 3 and 5 years means people looking to get on the ladder will have more choices available to them.”