Highlights from Coventry’s product changes include an offset rate of 1.59% available to customers with a minimum deposit of 50% of the property value, up to a maximum of 85% LTV (loan-to-value). It has no early repayment charges and a fee of £999. Buy-to-let borrowers can access a 1.99% rate, cut from 2.19%, for loans up to 65% LTV. The product has no early repayment charges and a fee of £1,999.
Bank of Ireland has focused on improving its fixed-rate mortgage products.
It has introduced an 85% LTV mortgage with a fixed rate of 2.28% and a 75% LTV buy-to-let mortgage offering a fixed rate of 2.93%.
The new range is available to the bank’s intermediary partner networks.
Alison Pallett, director of sales at Bank of Ireland UK, said: “As customers look for longer-term fixes, our products are tailored to provide great value and respond to customer demand. With 5-year no-fee rates starting at 2.17% for a 60% LTV product, the bank is offering a variety of options to give customers a wider choice.”