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

Coventry for intermediaries has cut selected rates on products for first-time buyers and buy-to-let limited companies, with reduced options available for new customers.

Products specifically aimed at supporting first-time buyers will see rates reduce by up to 11 basis points, while those for limited company buy-to-let will see reductions of up to 25 basis points.

Ben Williams, corporate account manager at Coventry Building Society, said: “These rate reductions will be welcome news for brokers and their clients who are either looking to get their first home or are managing a rental portfolio. We’ve seen a period of uncertainty within the market and rates have been increasing on the whole. 

"These reductions will not only add greater choice for anyone looking at their mortgage options, they may also create a little more confidence that the market remains competitive.”