Coventry for Intermediaries has cut rates on its five-year fixed residential mortgages by up to 0.10 percentage points.

It has also cut rates on its offset residential mortgages; two-year fixed products have been reduced by up to 0.16 percentage points and five-year fixed products by 0.10 percentage points.

New deals include:

Residential:

• 1.65% (was 1.75%) five-year fixed until 30.09.24, 50% LTV, ERCs payable until 30.09.24 and a £999 product fee.
• 1.95% (was 2.05%) five-year fixed until 30.09.24, 85% LTV, ERCs payable until 30.09.24 and a £999 product fee.

Kevin Purvey, Director of Intermediaries at the Coventry, said: “The current mortgage market is fast moving and we’ve made these further changes which are great news for brokers’ clients looking for the stability of a fixed rate or for those thinking about remortgaging in the next few months.

“These changes are also good news for clients interested in an offset mortgage, which could be a great option for borrowers wanting to make their savings work harder in this sustained period of low interest rates.”