Coventry for Intermediaries has cut rates across its higher-LTV residential mortgages by 10 basis points and added a new first-time buyer focussed product.

The rate cuts include the 85% LTV two-year fix with £999 fee going from 2.15% to 2.05% and the 90% LTV five-year fix with £999 being reduced from 3.25% to 3.15%, both being for purchase only.

The lender’s new product is a 95% LTV two-year fix set at 3.65%. This comes with zero fee and is available for both purchase and product transfer.

Coventry head of intermediary relationships Jonathan Stinton says: “Whether brokers are looking to help their clients take that all-important first step onto the property ladder or support those looking to remortgage to a lower rate, there’s a competitive option for a wide range of clients in our owner-occupier range.