As of Friday, 1st of December, Coventry for Intermediaries will be making a number of reductions across both its residential and buy-to-let (BTL) mortgage offering.
For residential new borrowers, the lender is set to reduce all existing fixed rates, as well as extending end dates across the entire range.
For existing borrowers, all fixed rates will also see a reduction, whilst its 5-year Flexx fixed rates will be removed from market.
In terms of Coventry’s buy-to-let offering, all new borrower fixed rates will benefit from new reductions, as well as an extension in end dates.
As for existing BTL borrowers, all fixed rates will be reduced and, once again, all 5-year Flexx fixed rates will be closed.
All product closures will come into effect from 8pm on Thursday 30 November, and any new will be launched from 8am the following morning.
Nicholas Mendes, mortgage technical manager at John Charcol, said: “This week is starting to feel like the last push for lenders trying to secure remaining opportunities before the winter break.
“Over the next fortnight, expect to see lenders reprice one last time before they turn their attention towards the new year.
“The past week has seen a raft of repricing from high street lenders and building societies, with the latest notice coming from Coventry.
“Given how competitively Coventry Building Society are priced amongst the ‘best buy tables, the latest reprice could be the moment we see another sub 4.5% alongside Nationwide.”
