View more on these topics

Coventry cuts rates on five- and 10-year fixed mortgages

Coventry Building Society has announced a series of cuts across its owner-occupier and buy-to-let range of mortgage products,

Within the lender’s five-year fixed range, the 50 per cent LTV owner-occupier product has been cut from 1.94 per cent to 1.89 per cent and the 90 per cent LTV version, which comes with £500 cashback, from 2.45 per cent to 2.39 per cent.

The 75 per cent LTV product has been cut from 2.15 per cent to 2.05 per cent (with £999 fee) and without the fee, the 75 per cent LTV has been cut from 2.35 per cent to 2.25 per cent.

Meanwhile, the ten-year 50 per cent LTV has had its rate cut from 2.39 per cent to 2.35 per cent. All products detailed above command a £999 product fee.

The building society adds that 0.10 per cent cuts across its BTL products can be found within its five-year range of products. Highlights include the 50 per cent LTV product, which has been cut from 2.55 per cent to 2.45 per cent, and the 65 per cent LTV BTL mortgage, which has been cut from 2.65 per cent to 2.55 per cent. Both have a £999 product fee.

The announcement comes just a month after the building society announced a series of rises in response to the Bank of England’s upping the base rate.

Coventry director of intermediaries Keven Purvey says: “Our five- and 10-year fixed owner-occupier and five-year fixed BTL mortgage ranges are now even more competitive, with some products offering market-leading rates. These products are a great option for borrowers looking for the stability and certainty of fixed mortgage payments, with a variety of LTVs and fee options for a range of brokers’ clients”.

Recommended

Annuity-Arrow-700x450.jpg

Coventry latest to pass on bank rate rise

Coventry Building Society has upped its savings and mortgage rates in response to the Bank of England’s decision to increase the base rate in early August. As well as increasing the rate on its savings products, all of the building society’s variable mortgage rates will rise by 0.25 per cent, too. The changes will occur […]

Coventry lengthens maturity notice by six weeks

Coventry for intermediaries has announced that it will now inform brokers and their clients that their mortgages are maturing four months ahead of time. The building society says that this will give brokers more time to discuss options with their clients. Coventry director of intermediaries Kevin Purvey (pictured) says: “Letting brokers know that their clients’ […]

barclays-building-2012-700x450.jpg

Barclays cuts rates on select products

Barclays has launched a new remortgage campaign for intermediaries named “Too big to miss,” which includes rate reductions within a number of purchase and remortgage products. The bank states that £100bn of residential and buy-to-let balances are currently on either a standard variable rate or tracker rate product, which equates to 1.4m customers that could […]

Trusts: Easier than you think?

Protection providers often extol the benefits of placing plans in trust. The advantages for clients are widely recognised and numerous – inheritance tax mitigation, avoiding probate delay, controlling claim proceeds, and so the long, familiar list continues. Yet, dismissed as unnecessary form-filling, or simply viewed as irrelevant in the context of a mortgage sale, less […]

Newsletter

News and expert analysis straight to your inbox

Sign up