This applies to its two and three-year fixed rates such as its two-year fix at 65 per cent loan to value (LTV) with a £999 fee which is now 4.21 per cent.
There is also a three-year fixed rate at 75 per cent LTV with a £999 fee and a rate of 4.18 per cent.
Both products are open for purchase, first-time buyers and remortgage. The remortgage option includes an incentive of either £350 cashback or a remortgage transfer service where the lender handles the legal process.
Ben Williams, corporate relationship manager at Coventry Building Society, said: “After an excellent start to the year, the mortgage market continues to be busier than many expected – even if it isn’t quite at last year’s levels.
“Demand for trackers still exists but the real interest is in two and three-year fixed rates. Brokers and their clients need competitive options to choose from and we’re continuing to support the market with further reductions of two and three-year fixed. Three years has continued to be popular as this has given borrowers additional security and more choice of fixing for slightly longer without long tie-ins.”
TSB cuts resi and PT rates
TSB has cut rates across its residential and product transfer mortgages with reductions of up to 10bps.
The changes apply to its two and five-year fixed remortgages with a £995 up to 75 per cent LTV and the product transfer equivalents.
The two-year fixed option at 60 per cent LTV now has a rate of 4.29 per cent, while the 60 to 75 per cent LTV deal is priced at 4.34 per cent.
The five-year fixed products at 60 per cent LTV has a rate of 3.99 per cent and the 60 to 75 per cent option has a rate of 4.09 per cent.
The remortgage and product transfer mortgages have the same rates.
