Coventry announces rate cuts

Coventry Building Society has reduced rates to products within its two-year fixed rate owner-occupied mortgage range.

Cuts include the 50 per cent LTV two-year fix chopped from 1.55 per cent to 1.35 per cent, and the 50 per cent LTV two-year fix being cut from 1.89 per cent to 1.69 per cent.

The former deal includes a £999 fee, while the latter has no fees. Both products have an early repayment charge set at 2 per cent in the first year, declining to 1 per cent in the second year of the mortgage term.

Coventry Building Society director of intermediaries Kevin Purvey says: “The next few months will see a lot of borrowers’ current mortgage deals coming to an end, so these products are ideal for those looking to secure their remortgage deal as early as they can.”

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