Coventry Building Society is set to reduce its fixed rates across a range of mortgage products for both new and existing borrowers.
New borrowers will see cuts in fixed purchase rates, 2-year remortgage rates at 80% and 85% loan-to-value (LTV), as well as reductions in all 2-year no-fee, 3-year, and 5-year fee remortgage rates. For existing borrowers, all fixed rates have been lowered.
In the buy-to-let and portfolio buy-to-let sectors, both new and existing borrowers will benefit from reduced fixed rates.
Nick Mendes, mortgage technical manager at John Charcol, said: “Following competitor repricing in recent days from the like of Halifax, HSBC and Virgin.
“Coventry Building Society have reacted quickly by making further reductions across their residential and buy-to-let range.
“It will be interesting to see if we have a sub 4.5% fixed from Coventry Building Society on Monday, and how this latest move will prompt other lenders to react next week”
