Coventry, TSB lower residential fixed rates today
Coventry for Intermediaries has reduced all owner-occupier fixed rates by up to 45 basis points, including two-, three-, and five-year options.
Highlights of the latest rate reduction include the 5.05% fixed rate to April 30, 2025, at 85% LTV with a £999 product fee, and the 4.69% fixed rate to April 30, 2028, at 65% LTV with a £999 product fee.
The lender, which has now announced rate cuts for three consecutive weeks, also lowered offset and interest-only rates.
“Market conditions are improving, allowing us to pass on price reductions across a number of products,” Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said. “This gives brokers a range of attractive options to discuss with their clients – including two-, three-, and five-year rates, as well as offset and interest-only products, which are all benefitting from a reduction.”
Another lender, TSB Intermediaries, has also announced changes to its residential and product transfer ranges.
The rate of its five-year fixed house purchase and remortgage at 0 to 85% LTV with £995 fee under the residential range has been reduced by up to 0.55%, while that of its five-year fixed residential at 0 to 85% LTV with £995 fee under product transfer was reduced by up to 0.50%.
TSB also introduced new products – two-year fixed at 0 to 85% LTV shared ownership remortgage products, and two-year fixed at 0 to 80% LTV shared equity remortgage products.