Coventry for intermediaries has reduced rates on a selection of its offset and interest-only mortgages.

The interest-only range is being cut by up to 46 basis points (bps) and rates on the offset range will drop by up to 50bps.

The reductions include a two-year fixed offset reduced from 1.79% to 1.39% at 65% LTV with early repayment charges (ERCs) until 31 December 2023, available for purchase, remortgage and product transfer.

There is also a five-year fixed interest-only deal at 50% LTV reduced from 1.75% to 1.49% with ERCs until 31 December 2026 and no product fee.

Coventry Building Society head of intermediary relationships Jonathan Stinton says: “With a huge number of borrowers’ mortgage deals due to end in the next couple of months, now is a great time for brokers to check in with their clients and help them find the right mortgage for their needs.”

Last week the lender made cuts on its residential mortgage range from 50% to 75% LTV.