Coventry for intermediaries reduces residential and buy-to-let rates

Coventry for intermediaries has cut selected rates across many of its residential and buy-to-let products.

Residential rates have been reduced by up to 12bps, while buy-to-let rates have been reduced by up to 10bps.

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

Highlights include a two-year fixed rate at 90% LTV, down to 5.24%, and a five-year fix at 95% LTV, available at 5.35%. Both products are available for first-time buyers and come with no fees and £500 cashback.

The latest reductions follow previous cuts to Coventry's first-time buyer and buy-to-let rates last week.

Jonathon Stinton, head of intermediary relationships at Coventry Building Society, said: “These reductions bring yet more competitive options to brokers, especially those with clients looking to buy their first home. The reduced rates on high LTV products, along with the cashback, offers much-needed extra support to those trying to get a foothold on the property ladder.”