Changes apply to two- and five-year options.
This includes its five-year fix at 75% loan to value (LTV) with no fee, priced at 5.61% for limited company BTL purchases, while the two-year fixed alternative has a rate of 6.06%.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Limited company buy to let continues to be a key area of demand for brokers, so we’re pleased to be able to offer more competitive options across the range. These new rates will help brokers support their landlord clients with greater flexibility and confidence.”
Atom Bank cuts prime rates
Atom Bank has reduced prime mortgage rates by as much as 0.25%.
The big BTL planner: Key dates landlords need to know
Sponsored by BM Solutions
At 85% LTV, rates have been cut by 0.2%, while options at 90% LTV have been reduced by 0.25%. Prime mortgage rates at 95% LTV have been lowered by 0.1%.
Now, prime rates start at 5.29% for deals at 85% LTV. The range includes two-, three- and five-year fixed rates across fee-free and fee-assisted options.
These follow Atom Bank’s reductions to its near prime rates earlier this week.
Richard Harrison, head of mortgages at Atom Bank, said: “We are pleased to be able to follow our near prime rate cuts with reductions across our prime product range. Across the bank, we are committed to delivering outstanding value and service to borrowers, irrespective of whether they have a spotless credit record or the odd blip.
“After the recent turbulence, we are seeing a period of relative stability in swap markets and are moving quickly to ensure brokers and their clients benefit from more competitive rates. By reducing rates on our prime range, we’re providing a compelling range of options for all borrowers, underpinned by the speed and certainty that defines the Atom Bank experience.”
