Coventry has lowered rates on selected offset and interest-only products to make its ranges more competitive.
The mutual has cut rates on 12 offset products by up to 50 basis points, while six interest-only deals have fallen by up to 46 basis points.
Examples of the rate cuts include its two-year fixed rate offset product at 65 per cent loan to value (LTV), which has dropped from 1.79 per cent to 1.39 per cent.
The product is available for purchase, remortgage and product transfer, with early repayment charges (ERC) applicable until 31 December 2023.
Coventry’s five-year fixed rate interest-only product at 50 per cent LTV has been cut from 1.75 per cent to 1.49 per cent.
It has ERCs until 31 December 2025 and is available for all borrowers subject to lending criteria.
Jonathan Stinton (pictured), Coventry’s head of intermediary relationships, said: “We’re delighted to make further rate reductions on our residential mortgages, this time on our offset and interest-only ranges. With a huge number of borrowers’ mortgage deals due to end in the next couple of months, now is a great time for brokers to check in with their clients and help them find the right mortgage for their needs.”
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.