Coventry for intermediaries has reduced selected residential rates by up to 36 basis points (bps) with fixed rate options available for 2, 3 and 5 years.

The lender has also expanded its 95% product range to include 2- and 3-year fixed rate options.

It said this will sit along the 5-year fixed rate options already available in this loan to value bracket.

A number of these products are specifically aimed at supporting first time buyers and come with £500 cashback.

Coventry Building Society head of intermediary relationships Jonathan Stinton said: “It’s encouraging to see that rates are continuing on a downward trajectory, allowing us to pass on value to borrowers wherever we can. We’ve also enhanced our higher loan to value product range with a particular focus on supporting first time buyers.

“The security of fixed rates makes them a popular option for many new borrowers, and having rates available for 2, 3 and 5 years means people looking to get on the ladder will have more choices available to them.”

The lender added that selected buy to let products have been reduced by up to 10bps.

They include the following:

• 4.86% 5 year Fixed Rate to 30.04.29, 65% LTV with a £999 product fee – available for residential remortgage, option of £350 cashback or our Remortgage Transfer Service.
• 5.58% 2 year Fixed Rate to 30.04.26, 65% LTV, no product fee – available for residential remortgage, option of £350 cashback or our Remortgage Transfer Service.
• 6.39% 2 year Fixed Rate at 95% LTV, no product fee – available for first time buyers, with £500 cashback.