Coventry for intermediaries reduces rates

Jessica Nangle

August 16, 2019

Coventry for intermediaries has reduced rates across its 10-year fixed owner-occupier mortgage range by 0.15%.

Highlights include the owner-occupier 10-year fix product at 50% LTV reducing to 2.20% and the Offset 10-year fix at 65% reduced to 2.40%.

Both come with a £999 product fee.

Kevin Purvey, director of intermediaries at Coventry, said: “Our fixed rate mortgages are now even more competitive, particularly at five and 10 years.

“Many borrowers are nervous about future market conditions, which is why more lenders are offering 10-year fixed rate mortgages and rates have never been more competitive.

“A wide range of clients could benefit from a longer-term fixed mortgage – from those who are close to the end of their mortgage deal to families looking to keep costs down for longer – so it’s worth brokers considering these products for their clients.”

The lender has also reduced rates on its 2-year fixed standard residential products by 0.05% for 90% LTV and its 5-year fixed standard residential and offset products by up to 0.10%.

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