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Coventry cuts rates and launches trackers; HSBC lowers pricing – round-up

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  • 11/11/2022
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Coventry cuts rates and launches trackers; HSBC lowers pricing – round-up
Coventry for Intermediaries has cut rates on select fixed rate residential products, including two, three and five-year options between 65 and 85 loan to value (LTV).

There is a five-year fixed rate priced at 5.14 per cent at 65 per cent LTV with a £999 fee and a three-year fixed rate at the same LTV tier with a rate of 5.28 per cent. 

The mutual has also launched tracker mortgages for residential and buy-to-let. 

This includes a two-year tracker with a rate of 3.78 per cent at 65 per cent LTV. This has a £999 fee and no early repayment charges. 

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “We’re pleased to be making reductions to many of our fixed rate products. There has been strong demand for our two-year, three-year and five-year options, which remain appealing to borrowers who are looking for certainty with their payments. 

“There’s also a growing interest in variable products, so we’re relaunching our tracker products. This gives brokers a wider range of options to discuss with their clients.” 

 

HSBC cuts rates 

HSBC has made cuts of up to one basis point to three and five-year switching and borrowing more mortgage rates, and five-year fixes for first-time buyers, home movers and remortgage. 

Changes apply to select rates up to 90 per cent LTV. 

Examples of updated rates include the existing borrower borrowing more product at 60 per cent LTV, fixed for three years, and priced at 5.84 per cent with no fee and 5.53 per cent with a £999 fee. 

Meanwhile, the five-year fixed fee saver borrowing more mortgage at 90 per cent LTV has fallen to 5.53 per cent. 

Changes apply from 11 November. 

 

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