Lender reprices 90% to 95% LTV products to further support first-time buyers
Coventry for intermediaries has lowered rates on the majority of its fixed rate mortgages, with residential rates slashed by up to 17 basis points (bps) across two-, three- and five-year options.
The lender also made the changes to 90% to 95% loan-to-value (LTV) deals to further support first-time buyers, with selected products offering a £500 cashback.
Included in the latest rate cut from Coventry is a 6.29% two-year fix at 95% LTV, with no product fee and with a £500 cashback. Also repriced is the lender’s 4.85% five-year fix at 65% LTV, with a £999 product fee and an option of £350 cashback or remortgage transfer service.
Last month, Coventry also announced rate reductions of up to 23bps on selected residential and buy-to-let fixed rate products.
“We may be entering the final few weeks of the year, but brokers are still hard at work for their clients,” commented Jonathan Stinton, head of intermediary relationships at Coventry Building Society. “There are new buyers out there who are looking to step onto the ladder, and existing homeowners who need to secure their next deal, and brokers are the ones they’ll turn to.
“Our latest reductions and our range of two-, three- and five-year rates helps give brokers what they need to take care of their clients.”
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