Coventry cuts rates on selected resi mortgages

Jake Carter

September 17, 2021

cut rates

Coventry for intermediaries has cut rates on selected offset and interest-only mortgages by up to 50 basis points (bps) and 46bps respectively.

Notable reductions include the 65% loan-to-value (LTV) 2-year fix reduced from 1.79% to 1.39%.

This offering has tiered early repayment charges (ERCs) and is available for purchase, remortgage and product transfer.

The 50% LTV 5-year fix has been reduced from 1.75% to 1.49%. This product also has tiered ERCs and is available for all borrowers, subject to interest-only lending criteria.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “We’re delighted to make further rate reductions on our Residential mortgages, this time on our Offset and interest-only ranges.

“With a huge number of borrowers’ mortgage deals due to end in the next couple of months, now is a great time for brokers to check in with their clients and help them find the right mortgage for their needs.”

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