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

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  • 10/06/2021
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Coventry Building Society cuts rates on 75 per cent BTL products with an eye to clients ready to refinance
Coventry has cut rates on several of its 75 per cent buy-to-let mortgages by up to 16 basis points, in a move designed to help brokers whose landlord clients may be coming to the end of deals over the coming months.

 

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.”

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