Coventry for Intermediaries has announced a new round of mortgage rate cuts across its residential and buy-to-let ranges for new and existing borrowers.

For residential customers, the lender is reducing rates on offset, interest-only and offset interest-only products, although it has not yet given details about the scale of the cuts.

Coventry will also cut rates on a wide range of fixed-rate deals between 65% and 90% loan-to-value (LTV). Selected 95% LTV products, including first-time buyer exclusive deals, are also being reduced.

Existing residential borrowers will also benefit from lower rates across most fixed-rate products and all offset and interest-only options.

In the buy-to-let market, rate reductions are limited to selected limited company fixed-rate products for new borrowers, including two-year and five-year remortgage deals with a £3,999 fee.

There are no changes for existing buy-to-let customers.

Coventry for Intermediaries said pending product transfer paper applications must still be signed and returned within 48 hours of the illustration date.

Meanwhile, Together has announced rate cuts across its short-term and first charge products.

The changes include a reduction of 2bps across selected unregulated bridging products, particularly within lower loan-to-value (LTV) bandings for loans above £100,000.

Headline rates for unregulated bridging will now start from 0.83%.

The short-term product is available on loans of between £26,000 and £5 million and includes dual solicitor representation on qualifying cases to support faster completions, with 100% funding available with additional security.

Property types include residential, commercial and semi-commercial, with products also available for expats and non-UK residents.

In addition, Together has reduced rates across its regulated first charge retention range for existing customers, with the two-year fixed rate at less than 65% LTV reduced by 55bps to 7.85%, and the five-year fixed rate reduced by 24bps to 7.75%

Together managing director of intermediary sales Tanya Elmaz said: “In a market where certainty, speed and flexibility are key, these latest changes demonstrate our ongoing commitment to supporting brokers and their clients.”