Coventry lowers rates on selected resi products

Jake Carter

June 4, 2021

cut rates

Coventry for Intermediaries has lowered rates by up to 20 basis points on its Standard Residential, Product Transfer and Offset mortgage ranges.

Notable reductions include the 65% loan-to-value (LTV) 5-year fix, cut from 1.79% to 1.65%, and the 65% LTV 2-year fix, reduced from 1.19% to 1.09%.

Both deals include a £999 fee and early repayment charges (ERCs) for the duration of the loan, with the former product available for purchase only and the latter for remortgage only.

The 65% LTV 5-year fix has also been cut, from 1.85% to 1.75%; this product has ERCs for the duration of the loan, no fees and is available for remortgage only.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “The next few months will see a lot of borrowers’ current mortgage deals coming to an end, so these products are ideal for those looking to secure their remortgage early.”

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