Mortgage News
Coventry BS cuts buy-to-let rates
Coventry Building Society has cut rates on its fixed-rate buy-to-let products by up to 0.3%.
The lender said the changes meant it had products in its two-year and five-year ranges which were among the lowest it has offered.
It has also reduced product fees on selected 50% and 65% loan-to-value (LTV) two-year fixed mortgages by £500 to £1,499.
Loan offers include:
Two-year fixed at 50% LTV at 1.39% (reduced from 1.49%), with early repayment charges (ERCs) payable until 30.04.20 and a £1,499 product fee (reduced from £1,999);
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Two-year fixed at 75% LTV at 1.79% (reduced from 2.05%), ERCs payable until 30.04.20 and a £1,999 product fee;
Five-year fixed at 50% LTV, at 2.09% (reduced from 2.39%), ERCs payable until 31.10.23 and a £1,999 product fee;
Five-year fixed at 75% LTV, at 2.59% (reduced from 2.69%), ERCs payable until 31.10.23 and a £1,999 product fee.
Coventry for Intermediaries director of intermediaries Kevin Purvey (pictured) said the products included some of the lowest buy-to-let rates the provider had ever offered.
“These products represent our commitment to the buy-to-let market and are ideal for landlords looking to lock in a highly competitive rate.”