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.”