From tomorrow the lender is offering a two-year rate at 3.80%, base rate +3.30%, capped at 5.30% until 2014 up to 65% LTV.
It also comes with a £250 booking fee and £999 arrangement fee, valuations up to £700 are included.
Colin Franklin, managing director of Godiva Mortgages, says: “Our latest buy-to-let product is another great example of product innovation here at the Coventry, as there are no other capped tracker products on the market for buy-to-let investors – this is simply unique.
“Tracking the base rate at +3.30% gives a highly competitive rate of 3.80% for two years. And, in addition to buy-to-let investors will also have the security of a cap, so if the base rate does increase within the two-year period, their rate will not rise above 5.30%.”