Coventry for intermediaries has reduced a number of residential fixed-rate products for new and existing customers, with a particular focus on higher loan-to-value lending.
The lender has cut selected rates by up to 10bps across its two-year, three-year and five-year fixed-rate range. Several of the revised products are aimed at first-time buyers and include £500 cashback.
Among the changes, Coventry is now offering a 4.44% two-year fixed rate to 31.07.2028 at 90% LTV, with no fee. The product is available to first-time buyers and comes with £500 cashback.
A five-year fixed rate at 95% LTV has also been reduced, with a rate of 4.76% fixed to 31.07.2031. This product is also fee-free, available to first-time buyers and includes £500 cashback.
Jonathan Stinton (pictured), head of intermediary relationships at Coventry Building Society, said: “Brokers are telling us that affordability remains front of mind for their clients, especially first-time buyers – so we’re pleased to offer some targeted reductions on our higher-LTV products.
“By focusing our changes on these options, we’re aiming to give brokers a bit more support for higher loan-to-value borrowers – where every improvement helps.”
