Coventry makes rate reductions amid product changes

Changes include a two-year fixed rate at 4.21% (up to 65% LTV) and a three-year fix at 4.18% (up to 75% LTV) - both available for residential, purchase, first-time buyers and remortgagors with a £999 product fee. 

Ben Williams, corporate relationship manager at Coventry Building Society, said:

“After an excellent start to the year, the mortgage market continues to be busier than many expected – even if it isn’t quite at last year’s levels.

“Demand for trackers still exists but the real interest is in 2 and 3 year fixed rates. Brokers and their clients need competitive options to choose from and we’re continuing to support the market with further reductions of 2 and 3 year fixed. 3 years has continued to be popular as this has given borrowers additional security and more choice of fixing for slightly longer without long tie-ins.”