Coventry for Intermediaries is bringing back 90 per cent loan-to-value deals for purchase and remortgage on Friday.

Like many lenders, Coventry reduced LTVs during lockdown when physical valuations became impossible.

It recently brought back 90 per cent LTV deals for product transfer, but remortgages and purchases were capped at 85 per cent.

On Friday the lender is launching two new deals for home buyers, movers and remortgage borrowers which are no longer restricted to existing customers.

The news comes after Accord, Virgin, Clydesdale and Furness Building Society were forced to withdraw their 90 per cent LTV products due to a deluge of applications.

HSBC has so far maintained its 90 per cent LTV deals.

Coventry’s will be offering two products for borrowers with a 10 per cent deposit: a five-year fixed at 2.6 per cent with a £999 fee and a fee-free alternative at 2.9 per cent.

Existing 90 per cent LTV borrowers can still access a two-year fixed at 2.35 per cent with no fee in its product transfer range.

However, its five-year product transfer deal at this LTV is being withdrawn.

The lender is also extending end dates from June to September on all fixed rate owner occupied products.

Coventry director of mortgage distribution Kevin Purvey says: “We are re-entering the market at 90 per cent LTV and accepting applications from Friday. 

“There is clear demand from customers and brokers for high LTV products and we are looking to support the market.”