Coventry for intermediaries has expanded its home loan range with several new products including three-year fixed-rate offers and trackers.   

The mutual’s broker-only arm adds that it has also cut rates on other products, including five-year fixed-rate deals from 85% to 95% loan to value.  

The firm’s reductions include:  

A three-year fixed-rate loan to 30 April 2026, at 5.89%, at 75% LTV, with no product fee.  

A three-year fixed-rate deal to 30 April 2026, at 5.99%, at 85% LTV, with no product fee.  

A two-year Flexx tracker (bank base rate plus 0.95%) to 30 April 2025, at 3.20%, at 65% LTV, with a £999 product fee and no early repayment charges.  

And a two-year Flexx tracker (bank base rate plus 1.05%) to 30 April 2025, at 3.30%, at 75% LTV, with a £999 product fee and no early repayment charges.  

The move by the firm comes as more than a thousand products have been pulled over the last few weeks as lenders work out how to reprice loans as the cost of debt for the government and companies has risen on international money markets, following Chancellor Kwasi Kwarteng’s tax-cutting mini-Budget late last month.      

Coventry for intermediaries head of intermediary relationships Jonathan Stinton says: “Three-year fixes is an underserved part of the market. Mortgage brokers and borrowers have been telling us it’s what they want, so we’ve added this to our range to improve the choices available.  

“Many borrowers like the certainty of fixed mortgage rates but the typical two or five-year terms might not appeal to everyone.   

“Some borrowers may be worried about whether two years will be long enough to outlast market volatility, while others may think five years is not right either. In today’s environment, a three-year fixed rate could hit the sweet spot in between.  

“On the other hand, fixed rates don’t always suit every borrower and many people may be considering dipping their toes into variable rates, possibly for the first time in a while. We’ve launched trackers with no early repayment charges so they have options if the bank base rate rises too quickly for their liking.   

“There’s no one-size-fits-all approach and so we’re trying to create a broad range of choices that helps meet a variety of mortgage needs. As part of this, we’ve also reduced rates at 85% to 95% LTV which will increase the options available for first-time buyers in particular.”