Coventry for Intermediaries has made various mortgage rate reductions by up to 20 basis points.

The changes come into effect on Friday, 26 March and occur within the lender’s residential purchase, remortgage, further advance, product transfer, offset ranges and interest only mortgages.

Cuts that stand out in the residential purchase range include the 85 per cent LTV two-year fix with £999 fee, which has been reduced from 3.05 per cent to 2.85 per cent and the 90 per cent LTV five-year fix with zero fee, which has seen a cut from 3.85 per cent to 3.69 per cent.

In the remortgage range, changes include the 75 per cent LTV five-year fix with zero fee being reduced from 2.09 per cent to 1.99 per cent and the 85 per cent LTV two-year fix with £999 fee being cut from 2.79 per cent to 2.59 per cent.

In the higher-LTV tier, changes include the 90 per cent LTV five-year fix with £499 product fee being cut from 3.85 per cent to 3.69 per cent.

For further advances, rate cuts include the 80 per cent LTV five-year fix with £999 product fee going form 2.85 per cent to 2.65 per cent and the 85 per cent LTV two-year fix with zero fee being cut from 2.89 per cent to 2.69 per cent.

Mortgages in the lender’s product transfer range have seen cuts of up to 20 basis points and, in the offset range, up to 10 basis points.

Additionally, interest-only rate cuts occur by up to 14 basis points.