Coventry for Intermediaries has reduced certain residential rates, with reduced options for new and existing customers.
Fixed rates for two, three and five years are available. Highlights of the range include a five-year fixed rate until July 31, 2031 at 90% loan-to-value (LTV) with no fees and a 4.40% rate, which is available to first-time buyers and comes with £500 cashback.
In addition, Coventry offers a two-year fixed rate until July 31, 2028 with a 95% no-fee LTV and a 4.83% rate, which is available to first-time buyers and comes with £500 cashback.
Coventry says a number of its products are specifically aimed at supporting first-time buyers and have a £500 cashback.
Coventry Building Society head of intermediary relations Jonathan Stinton says: “Brokers tell us that many clients are focused on keeping monthly payments as manageable as possible, especially those looking to take their first step on the ladder.”
“By reducing rates on higher LTV products, we aim to provide additional support where it can make a difference. These targeted changes are designed to give brokers more competitive options to borrowers who need them most.”
Meanwhile, Principality Building Society has reduced rates on residential, new build and buy-to-let (BTL) products.
In the society’s residential range, products have been reduced by a maximum of 0.20%.
These include the two-year fixed rate at 90% LTV and the two-year discount at 90% LTV, both of which have been reduced by 0.20%.
Also in the residential segment, the three- and five-year interest rates with an LTV of 90% have been reduced by 0.15%, while the fixed two-year interest rate with an LTV of 85% has decreased by 0.10%.
Coventry’s new two- and five-year fixed rate at 95% LTV shared ownership products have been reduced by 0.10% and 0.05% respectively.
In addition, BTL’s two- and five-year fixed rates with an LTV of 60% and an LTV of 75% have been reduced by 0.10%.
The two- and five-year discount rates for 60% and 75% LTV products have also been reduced by 0.10%.