Some two, three and five-year fixed rates have been added, as well as tracker mortgages.
The mutual is also offering product transfer and further advance rates that are lower than what is available in its new business range, which it said was “offering existing customers a preferential rate”.
The new products include a two-year fix at 75 per cent loan to value (LTV) with a £999 fee and a rate of 4.78 per cent. This is available for residential product transfer and further advance only.
There is also a five-year fix at 65 per cent LTV for residential purchase and remortgage. This has a rate of 4.76 per cent and a choice of £350 cashback or remortgage transfer service, which is when the lender handles the legal process.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “The market saw some turbulence last week, so we temporarily withdrew some of our new business products in order to protect service levels.
“We’ve launched new products in line with market conditions and have ensured product transfer and further advance rates are preferential to help support our members – all of which are available via brokers.”
Virgin Money and Clydesdale Bank raise variable rates
Clydesdale Bank and Virgin Money have increased variable mortgage rates in response to the Bank of England raising the base rate in March and again in May.
At Virgin Money, its residential standard variable rate (SVR) has gone up from 8.24 per cent to 8.74 per cent, while the loyalty rate for residential borrowers who have held a mortgage for seven years or more has gone up from 7.99 per cent to 8.49 per cent.
The buy-to-let variable rate has risen by 8.44 per cent to 8.94 per cent.
These changes will take effect from 1 July for existing borrowers and 6 June for new borrowers.
Across Clydesdale and Yorkshire Bank, the SVR has risen from 8.24 per cent to 8.74 per cent, while the residential offset variable rate has increased from 8.45 per cent to 8.95 per cent.
The buy-to-let revert rate and offset variable investment housing loan rate will rise from 8.74 per cent to 8.24 per cent.
This will take effect from existing customers’ next payment date after 6 June and new customers from 6 June.
The lender said most of its overall mortgage book was on a fixed rate product and would be unaffected by the rate changes.
Clydesdale Bank has also added mortgages and increased rates.
For example, there are interest-only products between 65 and 75 per cent LTV, fixed for two or five years with rates starting from 4.75 per cent.
The lender has also added two and five-year fixes at 80 per cent LTV with a £999 fee, where rates begin from 4.62 per cent.
It has also increased select rates by as much as 0.4 per cent.
