Two-, three- and five-year fixed rates are available. Highlights of the range include a five-year fixed rate to 31.07.2031 at 90% loan-to-value (LTV) with no fee and a rate of 4.40%, which is available for first-time buyers and comes with £500 cashback.

In addition, Coventry will offer a two-year fixed rate to 31.07.2028 at 95% LTV with no fee and a rate of 4.83%, which is available for first-time buyers and comes with £500 cashback.

Coventry says a number of its products are specifically aimed at supporting first-time buyers and come with £500 cashback.

Coventry Building Society head of intermediary relationships Jonathan Stinton says: “Brokers are telling us that many clients are focused on keeping monthly payments as manageable as possible, especially those looking to take their first step onto the ladder.”

“By reducing rates on higher LTV products, we’re aiming to provide extra support where it can make a difference. These targeted changes are designed to give brokers more competitive options for borrowers who need them most.”

Meanwhile, Principality Building Society has lowered rates across residential, new build and buy-to-let (BTL) products.

In the society’s residential range, products have been cut by up to 0.20%.

These include the two-year fixed at 90% LTV and the two-year discount at 90% LTV which have both been reduced by 0.20%.

Also in the residential range, three- and five-year rates at 90% LTV have been trimmed by 0.15%, while two-year fixed rates at 85% LTV have decreased by 0.10%.

Coventry’s new build two- and five-year fixed rates at 95% LTV shared ownership products have been cut by 0.10% and 0.05% respectively.

In addition, BTL two- and five-year fixed rates at 60% and 75% LTV have been lowered by 0.10%.

Two- and five-year discount rates at 60% and 75% LTV products have also been reduced by 0.10%.