Coventry for intermediaries will cut rates across a range of residential and landlord fixed-rate products on Friday (15 September).
The mutual’s broker-only arm will close selected offers at 8pm on 14 September and will launch new deals at 8am on 15 September, in line with its policy of giving brokers two days’ notice on product closures.
Highlights of its reductions include:
Residential — new business, porting, further advances, and product transfers
- Reductions on all fixed-rate new business and existing customer-only rates at 50% to 80% loan to value (including offset, interest-only, offset interest-only)
- Reductions on all tracker rates at 65% and 75% LTV
Buy to Let — new business, porting, further advances, and product transfers
- Reductions on all fixed-rate buy-to-let and portfolio BTL new business rates
- Reductions on all BTL and portfolio BTL tracker rates
- Reductions on all two-year fixed-rate BTL and portfolio BTL existing customer-only rates, excluding 50% and 65% LTV rates, with no fee
- Reductions on all five-year fixed-rate BTL and portfolio BTL existing customer-only rates
The lender says: “An agreement in principle does not secure a closing product. If an agreement in principle refers, we can’t guarantee we’ll be able to review it before the product is closed.
“So, if your agreement in principle does refer, you should copy the case and click through to the full mortgage application to secure the product.”
It adds that applications received after 8pm on 14 September will not be accepted.
