Coventry for intermediaries cuts first-time buyer and buy-to-let rates

Coventry for intermediaries has reduced selected fixed rates, with residential rates at 90-95% reducing by up to 14bps. 

Highlights include a two-year fixed rate at 90% LTV, down to 5.41% with no product fee and £500 cashback.
 
Buy-to-let rates across the board are also reducing by up to 11bps.

A five-year fixed rate buy-to-let remortgage product is decreasing to 4.72% at 75% LTV with a £1,999 product fee.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “We’re reducing rates at higher-loan-to-values with a focus on supporting home movers as well as first time buyers and the brokers who help them. Most of our first-time buyer rates also come with cashback, which can give a helpful boost towards moving costs.
 
“These cuts, alongside reductions across our whole buy to let range, reflect our commitment to brokers and to providing greater options for borrowers. With stamp duty changes on the horizon, we want buyers and brokers to know we are here to support them in an ever-busy market.”