For first-time buyers and purchasers requiring loans between 80 and 90 per cent loan to value (LTV), rates now begin at 2.29 per cent for an 80 to 85 per cent LTV product with a £995 fee.
The fee-free option is priced at 2.84 per cent.
At 85 to 90 per cent LTV, the £995 fee-paying product has a rate of 2.99 per cent, while the fee-free option is set at 3.19 per cent.
For remortgaging borrowers, products up to 60 per cent LTV, with a £995 fee, have been cut by 0.10 per cent to 1.04 per cent.
For remortgage products at 60 to 75 per cent LTV, with a £995 fee, rates have seen the same reduction to 1.29 per cent, while £1,495 fee-paying options are now priced at 1.14 per cent.
Rate changes are effective from today.
Coventry BS cuts rates by up to 70bps
Coventry Building Society has reduced rates on purchase and remortgage products by as much as 70 bps.
Reductions include the two-year fixed purchase only product at 85 per cent LTV, with a £999 fee. This now has a rate of 2.15 per cent, down from 2.85 per cent.
The five-year fixed product at the same lending tier and equivalent fee has been cut from 3.25 per cent to 2.65 per cent. This mortgage is available for purchase, remortgage, product transfer and further advance.
Rates on interest-only and product transfer deals have also been cut.
Jonathan Stinton (pictured), head of intermediary relationships at Coventry Building Society, said: “As we’re expecting a great deal of existing mortgage deals to be coming to an end in the next few months, as well as plenty of home buyers looking to make their move before the end of the stamp duty holiday, now is the time that brokers can really be adding value for their clients.
“We’re delighted to introduce these rate reductions and make our products even more competitive. This is great news for brokers and their clients, particularly for those with smaller deposits as the larger reductions have been made to the higher LTV products.”
