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Coventry BS cuts fixed rates; Platform changes rates – round-up
Coventry Building Society has reduced selected fixed rates for new applications by up to 0.27 per cent.
The lender said that two, three and five-year fixed rate options between 65 and 80 per cent loan to value (LTV) will all decrease.
Selected buy-to-let rates at 65 per cent LTV are also being lowered.
Examples of reductions include its five-year fixed purchase rate at 80 per cent LTV with a £999 product fee stands at 5.45 per cent. The deal is also available for first-time buyers.
Its five-year fixed remortgage rate at 65 per cent LTV with a £999 fee is priced at 5.34 per cent. There is an option for £350 cashback or remortgage transfer service.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “There’s £127bn worth of mortgages set to mature before the end of the year – that means a lot of people will be on the lookout for a new deal over the coming months.
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“We want to support our intermediary partners with competitive rates and standout service to make the process of sourcing and securing a new deal as straightforward as possible.”
Platform changes new business and product switching deals
Platform is relaunching its mainstream and buy-to-let ranges for new business and product switching from today, with rate decreases of up to 0.29 per cent in some instances.
In its new business and product switch mainstream range, two and five-year fixed rates have been lowered by up to 0.29 per cent and its two-year tracker has been upped by 0.25 per cent.
The standard variable rate has risen from 7.87 per cent to 8.12 per cent.
In its new business mainstream range, 10-year fixed rates have decreased by up to 0.19 per cent.
The lender’s new business professional mortgage two and five-year fixed rate deals have fallen by around 0.29 per cent.
On the buy-to-let side, in both its new business and product switching range, two, three and five-year fixed rates have been lowered by around 0.29 per cent.
Two-year premier fixed rate products have increased by 0.25 per cent and the reversionary rate has also increased from 7.87 per cent to 8.12 per cent.
In its new business range, Help to Buy deals for the Welsh scheme have gone down by up to 0.28 per cent for both two and five-year fixed rate deals.
In the product switch range, two, three and five-year fixed rate Help to Buy products have decreased by up to 0.24 per cent.