The lender’s 95 per cent LTV range has been expanded to include two and three-year fixed rates, alongside five-year fixed rate deals. Several products come with £500 cashback.
This includes its fee-free two-year fixed rate at 95 per cent LTV, available for first-time buyers, priced at 6.39 per cent with £500 cashback.
Selected buy-to-let products have been lowered by around 0.1 per cent.
Examples of rate reductions include its five-year fixed residential remortgage rate at 65 per cent LTV with a £999 fee falling to 4.86 per cent.
Its two-year fixed residential remortgage rate with no fee at 65 per cent LTV has gone down to 5.58 per cent.
Both have the option of £350 cashback or remortgage transfer service
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “It’s encouraging to see that rates are continuing on a downward trajectory, allowing us to pass on value to borrowers wherever we can.
“We’ve also enhanced our higher LTV product range with a particular focus on supporting first-time buyers. The security of fixed rates makes them a popular option for many new borrowers, and having rates available for two, three and five years means people looking to get on the ladder will have more choices available to them.”
Gen H lowers rates
Fintech mortgage lender Gen H has lowered rates by up to 0.26 per cent, the third reduction in nine days.
Two-year fixed rates have been cut by up to 0.17 per cent, three-year fixed rates by around 0.26 per cent and five-year fixed rates have fallen by around 0.23 per cent.
Pete Dockar, chief commercial officer at Gen H, said: “We promised to reduce where and when we could, and again we’re doing just that. We are in a unique but often beneficial position in the market when it comes to our ability to move quickly on rate reductions.
“We’re thrilled that for a third time in a few short weeks we’ve made yet another round of cuts to support our intermediary partners and their clients as we head into the Christmas season.”
