Coventry for intermediaries has cut selected residential rates, with reduced options available for new and existing customers.

Rates have reduced by up to 10bps with two, three and five-year fixed rates available. A number of these products are specifically aimed at supporting first time buyers and come with £500 cashback.

Highlights include a 4.44% two-year fixed rate to end of July 2028, 90% LTV, no fee – available for first time buyers and comes with £500 cashback. Also, a 4.76% five-year fixed rate to end of July 2031, 95% LTV, no fee – available for first time buyers and also with £500 cashback

Commenting on the new offerings, Coventry Building Society head of intermediary relationships Jonathan Stinton said: “Brokers are telling us that affordability remains front of mind for their clients, especially first time buyers – so we’re pleased to offer some targeted reductions on our higher LTV products. By focusing our changes on these options, we’re aiming to give brokers a bit more support for higher loan-to-value borrowers – where every improvement helps.”

Newcastle for Intermediaries has expanded recent rate reductions to now include the lender’s Interest Only range. Borrowers can access rates from 3.69% (two-year, 70% LTV with £1,999 fee) for both repayment and interest only.

For a client approaching maturity, a product transfer with Newcastle offers: a switch up to three months early with no ERCs; exclusive existing customer rates;  a 0.30% procuration fee, paid within 28 days of completion; no affordability checks  and online-only applications.