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Coventry Building Society cut mortgage product rates by 23 basis points and introduced new loans at 50% LTV for both new and existing customers.
The base rate change is happening on the 2-year 75% LTV tracker, which charges a £999 product fee and is now set at 4.50%.
Meanwhile, the two-year fixed 85% LTV with a £999 product fee was reduced by 18 basis points to 4.62%.
Within the 50% LTV range for home borrowers, Coventry offers a five-year home purchase or remortgage fix with a £999 product fee that includes either £350 or a remortgage transfer service at 3.96%.
And for borrowers buying to rent, the lender valued a five-year fixed product transfer and an additional £1,999 upfront loan at 4.70%.
Jonathan Stinton, Head of Intermediation in Coventry, says: “This gives brokers a range of attractive options to discuss with their clients, allowing them to re-engage with borrowers and help them find the best product.”
you can read Mortgage strategy a recent one-on-one interview with Stinton is here.
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