The changes include a range of products for first-time buyers, including options offering cashback to help with the upfront costs.
For instance, there is a 4.69% two-year fixed rate to 31 December 2028 at 90% loan to value (LTV) with a £999 fee – available for first-time buyers and coming with £500 cashback.
Plus, there is a 4.65% five-year fixed rate to 31 December 2031 at 90% LTV with a £499 fee – available for first-time buyers and coming with £500 cashback.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “These latest reductions ensure we’re continuing to offer competitive options across a broad range of borrower needs. From first-time buyers through to existing homeowners and landlords, our focus remains on providing products that give brokers greater choice when supporting their clients.”
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Principality BS makes rate reductions across mortgage range
It announced rate decreases across its residential, tracker, joint borrower sole proprietor (JBSP), BTL, holiday let, new-build, one-year self-employed and six-month CIS products.
Rate reductions across its residential range include two- and three-year fixed 65% LTV products going down by 0.08%. Its largest reduction was on its five-year fixed 65% LTV products by up to 0.11%. The two-year 80% LTV products have been cut by up to 0.07%.
Its two-year 65% tracker product with a product fee has been reduced by 0.05%.
The BTL range has seen reductions of up to 0.1%. Its two-year fixed 60% LTV product without a product fee has gone down by 0.1% and its five-year fixed 70% LTV product with an £895 product fee has been lowered by 0.05%.
The new-build five-year fixed 75% LTV Help to Buy Wales product has been cut by 0.09%.
Its one-year self-employed products have been slashed by up to 0.11%, while its five-year fixed 75% LTV one-year self-employed product with an £895 product fee has been cut by 0.05%.
These reduced rates, among others, are effective from 29 June.
