Coventry reduces first-time buyer and buy-to-let rates

Coventry for intermediaries has reduced selected mortgage rates, with new deals launching today. 

Residential and buy-to-let rates have been reduced by up to 16bps, with reduced options for new and existing customers.

A number of the rate cuts are specifically aimed at supporting first-time buyers and come with £500 cashback. 

Highlights include a 5.09% two-year fixed rate at 85% LTV and a 5.02% five-year fix at 90% LTV, both available for first-time buyers with no fee and £500 cashback.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Brokers are telling us that many clients are focused on keeping monthly payments as manageable as possible, especially those looking to take their first step onto the ladder. 

"By reducing rates on higher LTV products, we’re aiming to provide extra support where it can make a difference. These changes are designed to give brokers more competitive options for borrowers who need them most.”