Coventry for intermediaries has announced cuts to its mortgage rates, with new deals launching from tomorrow, Tuesday 12th August.
Residential rates are reducing by up to 0.14% and buy-to-let rates are reducing by up to 0.38%.
Product highlights include a 2-year fixed rate up to 65% loan-to-value (LTV) at 3.80% with a £999 fee – available for residential purchase, and a 5-year fixed rate up to 75% LTV at 4.31% with a £1999 fee – available for buy-to-let purchase.
The lender is among the first to reduce mortgage rates following last week’s Bank of England decision to reduce base rate from 4.25% to 4%.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “These rate reductions give brokers fresh opportunities to support clients at all stages.
“First-time buyers have more affordable options to help them get on the ladder, and those looking to move or get a new deal have more options to consider.
“Our product transfers rates are aligned with our cheapest new business rates too, so brokers can offer existing clients the same great value as anyone coming to us for the first time.
“It’s a great time for brokers to engage with clients and guide them to their next deal.”
