Coventry Building Society cuts rates on 75 per cent BTL products with an eye to clients ready to refinance

Coventry Building Society cuts rates on 75 per cent BTL products with an eye to clients ready to refinance

 

The five-year fixed to 31 January 2027 was cut to 2.29 per cent, down from 2.45 per cent. The product attracts early repayment charges (ERCs) to end-January 2027, and comes with a £1,999 fee.

Meanwhile the rate on the two-year fixed to 31 July 2023 was cut to 1.79 per cent, from 1.89 per cent. The ERCs run to end-July 2023 and again the product fee is £1,999.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society (pictured), said: “We know there are some large spikes in products coming to the end of their existing deals in the buy-to-let market over the coming months. These price reductions should be attractive to brokers and help their existing landlords to refinance.”