Coventry for intermediaries has cut several rates on its residential mortgage range, with the majority of changes coming in at 75 per cent loan to value and above.

The mutual’s broker-only arm says rates have been cut by up to 16 basis points at 75 per cent and 90 per cent LTV, while its 80 per cent and 85 per cent LTV ranges have seen reductions by up to 20 basis points.

The changes, which take effect today, apply across its purchase, remortgage, product transfer and further advance ranges.

It adds products also include a standard valuation up to £670 and its remortgage transfer service, where applicable.

The business says highlights of the residential range include a 1.89 per cent two-year fixed to 30 June 2023 with early repayment charges up until that date. The product has a 75 per cent LTV, no product fee, and is available for remortgage only.

It also offers a 2.99 per cent two-year fixed to 30 June 2023 with early repayment charges up until that date. The product has a 90 per cent LTV, a £999 product fee. It is available for purchase, remortgage, product transfer and further advance.

Coventry Building Society head of intermediary relationships Jonathan Stinton says: “We’ve sharpened our rates to help us continue to support the market. Hopefully, our updated range continues to appeal to brokers and their clients, as there’s plenty of demand out there from clients looking to purchase and those looking to remortgage.”