Coventry cuts residential and buy-to-let rates by up to 0.45%

Coventry for intermediaries has reduced selected fixed rates, with residential rates reducing by up to 19bps and buy-to-let rates by up to 45bps.

Rates at 90-95% have been reduced with a view to help first-time buyers, with selected products offering cashback.

In its residential range, a two-year fixed rate at 90% LTV has reduced to 5.43% with no product fee and £500 cashback. An equivalent rate with a £999 fee is down to 5.15%.

Buy-to-let highlights include a 4.52% five-year fix at 75% LTV with a £1,999 product fee – available for buy-to-let remortgage, with the option of £350 cashback or use of the Society's remortgage transfer service.

Ben Williams, corporate account manager at Coventry Building Society, said: “Many of our rates are reducing, with some of our reductions going to options most suited for first-time buyers. As well as competitive rates, many of these deals also come with cashback which could be handy to help new buyers with moving costs.”