Coventry for intermediaries cuts rates on Offset mortgages

Jake Carter

June 25, 2021

mortgages rates

Coventry for intermediaries has reduced the rates on selected Offset mortgages by up to 36 basis points, with the changes applying to most loan-to-values (LTVs).

Notable reductions include the 65% LTV 2-year fix cut from 1.59% to 1.35%.

This deal includes early repayment charges (ERCs) over the duration of the term and it is available for purchase, product transfer or remortgage.

The 65% LTV 5-year fix has also been cut, from 1.79% to 1.55%; it includes ERCs over the duration of the term, and is available for purchase, product transfer or remortgage.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Our Offset mortgages are now even more competitive, which is great news for brokers and their clients.

“Offset is a fantastic way for borrowers to make their savings work harder by saving mortgage interest and either reducing monthly payments, make the mortgage term shorter or pay off the mortgage early. And who doesn’t want that?!

“For brokers, offset gives them more touch points with their clients. Rather than just checking in towards the end of a client’s fixed rate mortgage, brokers could get in touch on an annual basis to see how their clients are progressing with their savings goals, and offer support if needed.”

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