Coventry for intermediaries has announced a major rate reduction across its range of fixed-rate mortgage products.
The lender has cut residential rates by up to 45 basis points and buy-to-let rates by as much as 20 basis points. The rate reductions apply to 2-, 3-, and 5-year fixed-rate options for residential applications.
Notable among the new offerings are a 5-year fixed rate at 4.92% until 30 April 2029 for residential purchases at 65% loan-to-value with a £999 product fee.
Additionally, a 5-year fixed rate at 5.40% until 30 April 2029 is available for buy-to-let purchases and remortgages at 75% loan-to-value with a £1,999 product fee.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “It’s encouraging to see that rates are continuing on the downward trajectory, and sub 5% deals are back on the table.
“Fixed rates remain to be popular, so we’re supporting our broker partners with reductions on selected 2-, 3-, and 5-year fixed-rate deals, giving them the options they need to help their clients.”
