Coventry for intermediaries has announced an expansion of its product range with the addition of new offset and interest-only mortgage options.
These new products include 2-year and 5-year fixed rates for both new and existing customers. Furthermore, the company has reduced rates on its existing offset and interest-only mortgage products.
The expanded product range features a 4.51% Offset 2-year Fixed Rate available until 31 October 2025, at 65% loan-to-value (LTV) with a £999 fee.
This option is available for purchase and remortgage applications, with customers given the choice of £350 cashback or RMTS (fee-free legal services) for remortgage applications.
Another highlight is a 4.66% Interest Only 2-year Fixed Rate until 31 October 2025, at 50% LTV with a £999 fee, also available for purchase and remortgage applications, offering the same cashback or RMTS options.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, commented on the expansion, emphasising the importance of providing brokers with a comprehensive range of products to cater to their clients’ needs.
He acknowledged the growing popularity of offset mortgages and the strong demand from brokers for a more diverse product range.
Jonathan Stinton, Head of Intermediary Relationships at Coventry Building Society, said: “We want to make sure brokers have access to the wide range of products they need.
“Offset has become increasingly popular, and we have seen strong demand from brokers to enhance the range and choice available.
“Education in this offering is so important and there are lots of resources available on our website to support this often misunderstood product.
“Offset and interest only products can be great options for borrowers to consider, and brokers can make all the difference in guiding their clients through the features of these rates.”
