"Seeing sub-4% rates back on the table is a great sign for the market and could lead to more activity in the latter part of the year"
- Jonathan Stinton, head of intermediary relationships at Coventry BS
Coventry for intermediaries has launched a five-year fixed rate at 3.90%, alongside reductions of all other fixed rates across its residential and buy-to-let product ranges.
Residential rates have reduced by up to 52bps and buy-to-let rates by to 25bps.
As a result, the Society has launched a residential five-year fixed rate at 3.90%, available up to 65% LTV with a £999 product fee.
Buy-to-let highlights include a five-year fixed rate remortgage product at 65% LTV, reduced to 4.53% with no product fee and the option of £350 cashback or use of the Society's remortgage transfer service.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Seeing sub-4% rates back on the table is a great sign for the market and could lead to more activity in the latter part of the year. Last week’s Bank of England decision was the welcome news borrowers had been waiting for, and the sweep of rate reductions which has happened since should hopefully generate confidence among those looking to secure a new mortgage deal in the coming months.”
