The mutual has cut residential mortgage pricing by as much as 0.25% and BTL rates by up to 0.2%.
This includes a two-year fix at 65% loan to value (LTV) with a £999 fee for residential purchase, which is now priced at 3.89%.
Coventry Building Society’s five-year fixed BTL remortgage at 75% LTV with a £1,999 fee now has a rate of 4.45%. This product also includes the option to use the mutual’s remortgage transfer service.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Swap rates have fallen, which has created room for more movement on mortgage pricing.
“We’ve reduced rates across our residential and buy-to-let ranges, with some of the biggest cuts going to two-year fixes – reflecting growing demand for shorter-term flexibility in an uncertain market. It’s a step to support those making decisions in a shifting landscape.”
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TMW cuts mortgage rates
The Mortgage Works (TMW) has made another round of mortgage rate cuts, with pricing cut by as much as 0.1%.
Changes will apply to select two-year fixed BTL rates from 9 April.
This includes a remortgage-only product available up to 65% LTV with a £1,495 fee, which has gone down from 4.44% to 4.34%.
The corresponding fee-free option has been reduced by the same amount to 4.74%.
Joe Avarne, senior manager at TMW, said: “These latest reductions demonstrate our commitment to offering competitive rates, as we aim to ensure that The Mortgage Works continues to be front of mind for landlords.”
Earlier this year, the lender reduced mortgage rates on its switcher products.
