Coventry reduces mortgage rates

The Coventry has launched Fixed, Tracker and Flexx products in its Residential, Offset & BTL ranges, as well as offering a variety of different Loan to Value levels and arrangement fee options.

Headlining the changes is a new 2 year fixed rate residential mortgage at 3.50% available at 50% LTV, with free valuation and free remortgage transfer service. Residential customers borrowing up to 70% LTV can take a 2 year fixed rate of 3.65%.

For customers looking for a product that tracks the Bank of England Base Rate, Coventry is introducing a 2 year tracker at 70% LTV, equivalent to Base Rate plus 2.09% which gives a current payment rate of 2.59%. A free valuation and free remortgage transfer service is also available on this product.

Also launched today are a number of competitive Buy to Let mortgage products including 4.99% fixed for 18 months with £700 of fees and a free valuation. This is available at 65% Loan to Value.

Colin Franklin, sales and marketing director at the Coventry and managing director of Godiva mortgages, said: "We continue to have a strong appetite for growing our mortgage business and expect this new range be very well received by intermediaries and customers alike.

"With our unique intermediary pledges, including a promise of no dual-pricing, we have developed this new range to boost business opportunities for brokers."