Coventry for Intermediaries has announced cuts of up to 25 basis points on its residential and buy-to-let mortgage offering, while West Brom Building Society is making cuts of up to 18 basis points.
Coventry reduces rates for residential properties by up to 25 basis points and rates for purchase and rental by as much as 10 basis points.
For the home mortgages, highlights include a two-year fixed rate of 65% LTV, which is reduced to 3.92% with a £999 fee.
On the buy-to-let side, the Coventry Limited Company’s five-year fixed rate with an LTV of 75% has been reduced to 5.09% without fees.
Jonathan Stinton, head of intermediary relations at Coventry Building Society, said: “It is encouraging to see rates continue to fall for both residential and buy-to-let.
“Lower prices not only give brokers more competitive options to present to clients, but also help restore confidence among borrowers who have been waiting for the right time to act.”
Meanwhile, West Brom Building Society has announced cuts of up to 18 basis points on its two- and three-year mortgage offering.
Highlights include a two-year fixed rate 95% LTV no-fee, now 4.80%, and a two-year 90% LTV mortgage at 4.42%, also no-fee.
West Brom product manager John Philips said: “We aim to deliver products that are attractive and affordable. These latest discounts reflect our aim to help people achieve a more secure future through home ownership.”
A lot major price reductions by lenders has reduced the average mortgage interest rate on two-, three- and five-year fixed rates by 3 basis points this week, according to Moneyfacts.