It launches two-year fixes and reduces tracker rates
Following the expansion of its product range last week to include three-year fixes, Coventry for intermediaries is now further increasing its offering with the launch of two-year fixed rates for residential borrowers.
The new products are two-year fixed rates to April 30, 2025, at 75% LTV with a rate of 6.19% and no product fee, and a two-year bank base rate tracker (BBR +0.78%) to April 30, 2025, at 65% LTV with a rate of 3.03% and a £999 product fee.
The lender said tracker rates are also seeing a reduction.
Read more: Coventry for intermediaries expands product range.
“We’ve seen with the popularity of our recent three-year fix that certainty remains very appealing to many borrowers,” Jonathan Stinton (pictured), head of intermediary relationships at Coventry for intermediaries, said. “We’ve extended our range of fixed rates further with some two-year deals. This provides a more complete suite of options for those weighing up short-term and long-term volatility.
“There’s increasing interest in variable rates too, and we’ve made our two-year tracker more competitive. While fixed rates are still the most typical choice, we’re seeing more demand for different types of products as variable rates become a greater consideration for brokers and their clients.”