Coventry Building Society has released a range of three-year fixed mortgages in response to a desire for more mid-term mortgage options.
The mutual said mortgage brokers had suggested this due to demand from clients.
The rates will match corresponding mortgages in its two-year fixed rate range, such as the three-year fix at 75 per cent loan to value (LTV) with a rate of 3.77 per cent and a £999 product fee.
Alongside this, the mutual has cut rates on selected two and five-year fixes by up to 0.23 per cent. This includes mortgages in its offset range, where borrowers use their savings to offset their mortgage interest.
Interest-only mortgage rates have also been reduced by up to 0.26 per cent, while standard buy-to-let rates have been cut by up to 0.32 per cent.
Clydesdale pulls five-year fixes
Clydesdale has withdrawn select five-year fixed mortgages from its offering.
From 8pm today, the bank will pull its five-year fixes with a £999 fee at 75, 80 and 85 per cent LTV.
These products will still be available to existing customers switching rates, however.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
