Coventry for intermediaries has announced a reduction in selected fixed mortgage rates, responding to recent falls in swap rates and growing borrower interest in shorter-term deals.

The lender has cut rates by up to 25 basis points across parts of its residential range, with selected buy-to-let options reduced by up to 20 basis points.

The changes apply to both new and existing customers.

Among the updated offerings is a two-year fixed rate at 3.89% until 31 October 2027, available up to 65% loan-to-value for residential purchase with a £999 fee. In the buy-to-let segment, a five-year fixed rate has been reduced to 4.45% until 31 October 2030, at 75% loan-to-value with a £1,999 fee.

This particular product is aimed at remortgage customers and can be accessed via the lender’s Remortgage Transfer Service.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Swap rates have fallen which has created room for more movement on mortgage pricing. We’ve reduced rates across our residential and buy to let ranges, with some of the biggest cuts going to two year fixes – reflecting growing demand for shorter-term flexibility in an uncertain market.

“It’s a step to support those making decisions in a shifting landscape.”