Coventry for Intermediaries has launched cashback remortgage products, reintroduced tracker products and lowered all residential rates.

Cashback remortgage options will be available for residential cases at 65% and 75% loan-to-value (LTV) and buy-to-let (BTL) and portfolio landlord cases at 50% LTV.

These products all offer £350 cashback.

Remortgage products which offer the Remortgage Transfer Service instead of the cashback option are also available.

Tracker products are available for residential and BTL, with options starting from 0.28% above base rate.

Meanwhile, residential rates have been reduced by up to 90 basis points.

Highlights of the changes include a five-year residential fixed rate of 4.35% at 65% LTV and a product fee of £999 (remortgage cashback option available).

The change also includes a five-year BTL fixed rate of 5.30% at 50% LTV and a fee of £1999 (remortgage cashback option available).

In addition, there is a two-year residential BBR tracker at 65% LTV with a fee of £999 and no early repayment charges.

Coventry Building Society head of intermediary relationships Jonathan Stinton says: “Remortgages are going to be an area of major focus for brokers in 2023, so we continue to support our intermediary partners with the introduction of cashback remortgage products.”

“Products which offer our Remortgage Transfer Service are also still available, giving brokers and their clients freedom to either appoint their own solicitor or use our conveyancing service.”

“We’re also supporting the market with reductions of up to 90bps for all residential products, and reintroducing trackers to the range as there’s still a strong demand for flexibility.”