Its one-year fixed residential product transfer rates up to 75% have received the largest cuts of 0.25%, as well as the buy-to-let (BTL) equivalents.
The two-year fixed residential product transfer rates between 90% and 120% loan to value (LTV) have gone down by 0.1%, while three-year fixes up to 85% LTV have been cut by 0.05%.
Meanwhile, five-year fixed residential product transfer rates between 90% and 120% LTV have gone down by 0.15%.
Across additional borrowing, residential three-year fixed rates up to 75% LTV have been cut by 0.5%.
Earlier this week, the firm reduced pricing across its residential and product transfer mortgage rates.
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Coventry BS lowers residential mortgage rates
Coventry Building Society has cut rates on selected residential mortgages for new and existing borrowers.
This includes a five-year fix at 90% LTV priced at 4.4% and a two-year fix at 95% LTV with a rate of 4.83%, both with no fee, for first-time buyers and with £500 cashback.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Brokers are telling us that many clients are focused on keeping monthly payments as manageable as possible, especially those looking to take their first step onto the ladder.
“By reducing rates on higher‑LTV products, we’re aiming to provide extra support where it can make a difference. These targeted changes are designed to give brokers more competitive options for borrowers who need them most.”
Mortgage rate reductions at YBS
Yorkshire Building Society has lowered rates by as much as 0.28%, applying to products between 60% and 95% LTV.
There is a two-year fixed purchase product at 75% LTV, which has fallen from 3.66% to 3.61%, with a £995 fee and free standard valuation.
Further, a three-year fixed remortgage at 85% LTV is now priced at 3.89%, down from 4.17%, with a £995 fee, free standard valuation and remortgage legal service. There is also a two-year fixed purchase product at 85% LTV, down from 3.74% to 3.69%, with a £995 fee and free standard valuation.
Aidan Smith, mortgage product manager at Yorkshire Building Society, said: “We’re always looking for ways to pass on value and make the range as competitive as possible. That’s why we’re so pleased to announce these changes, including three best buys, which are designed to support a wide range of borrowers.”
Hodge Bank cuts holiday let pricing
Hodge Bank has lowered pricing in its holiday let range by as much as 0.51%.
The bank said the changes were made to support people wanting to enter the holiday let space ahead of the holiday season. It also follows the launch of a fee-free five-year fix last month.
The lender will allow day one remortgages, accepts Airbnb in cities, coastal and rural areas and has no minimum Energy Performance Certificate (EPC) rating requirement. First-time landlords are also accepted.
Emma Graham, business development director for Hodge, said: “As demand for UK staycations continues to drive opportunities across the holiday let sector, and with many borrowers approaching mortgage maturities, these lower rates, combined with our compelling criteria provide competitive solutions for holiday let customers.
“We saw a significant increase of holiday let purchases during the pandemic, when demand for UK staycations was at an all-time high. We’re now six-years on and though travel restrictions aren’t influencing behaviour as they were then, the cost of living continues to be a consideration when it comes to holiday planning. UK-based holiday lets continue to be a great alternative for those wanting a break on home soil.”
