Coventry for Intermediaries has reduced rates on a selection of its fixed rate buy-to-let products for both standard BTL and portfolio landlords.

The cuts concern 65 per cent LTV and 75 per cent LTV mortgages.

For standard BTL at 65 per cent LTV, highlights include the five-year fix with £999 fee being cut from 2.25 per cent to 2.05 per cent and the same fix with zero fee from 2.39 per cent to 2.19 per cent.

At 75 per cent LTV, highlights include the two-year fix with £1,999 fee going from 2.29 per cent to 1.89 per cent and the two-year fix with £999 fee decreasing from 2.65 per cent to 2.25 per cent.

The five-year fix with £999 fee, meanwhile, has seen its rate cut from 2.95 per cent to 2.45 per cent.

Within the lender’s portfolio landlord selection, some of the more significant cuts include the 65 per cent LTV five-year fix with £1,999 fee having its rate slashed from 2.34 per cent to 2.15 per cent and the five-year fix with zero fee going from 2.64 per cent to 2.45 per cent.

At 75 per cent LTV, the two-year ‘flexx’ fixed with £1,999 fee has seen its rate go from 2.79 per cent to 2.39 per cent and the five-year fix with £1,999 fee from 3.05 per cent to 2.55 per cent.

Coventry has also introduced new products for both standard BTL and portfolio BTL including, for the former, a two- and a five-year fix at 2.05 per cent and 2.19 per cent respectively and, for the latter, the same fixes at 2.29 per cent and 2.45 per cent.

All the new launches charge a £999 fee.

Coventry head of intermediary relationships Jonathan Stinton says: “Our BTL range is now even more competitive. It’s great news for intermediaries and their landlord clients as we now have a wider choice of products available.

“There will be lots of BTL opportunities for brokers in 2021 for both purchase and remortgage and we expect our range to be a popular choice. We know our high level of service is also valued by brokers and it will remain as strong as ever next year.”