Coventry for intermediaries, Clydesdale Bank and Saffron for Intermediaries have cut prices as lenders take advantage of stable base and swap rates.  

Coventry for intermediaries has reduced the majority of its fixes, with residential two-, three- and five-year terms down by up to 37bps.   

It adds that 90% loan to value to 95% LTV deals, aimed at first-time buyers, have also been reduced, with selected products offering £500 cashback.  

Highlights include:   

• Five-year fixes at 90% LTV, with no product fee, at 4.64%, and £500 cashback – available for FTBS  
• Two-year fixes at 75% LTV, with a £999 product fee, at 4.42%– available for residential remortgage, with £350 cashback or use of the lender’s remortgage transfer service  

Coventry Building Society head of intermediary relationships Jonathan Stinton says: “Fixed rates remain to be popular, so we’ve reduced all of our standard two-, three- and five-year deals to give brokers the options they need to help their clients.”  

Clydesdale Bank has cut rates on a range of residential products for new and existing customers by up to 72bps.  

Highlights include:  

New and existing customer offers  

• Selected two- and five-year fixes reduced by up to 72bps  

Exclusive purchase and remortgage deals  

• Selected purchase two- and five-year fixes reduced by up to 30bps, starting at 4.14%  

Professional products  

• Selected professional and newly-qualified professional fixes reduced by up to 41bps, starting at 4.49%  

Saffron for Intermediaries has cut rates across 12 of its core products, including its owner-occupier, self-employed, contractor, and buy-to-let ranges by as much as 60bps.  

Highlights include:  

Self Employed/contractor reductions  

• Five-year contractor fixes at 90% LTV, down 60bps to 5.37%    
• Five-year self-employed fixes at 90% LTV, down 50bps to 6.37%    

Owner-occupier reductions    

• Five-year fixes at 90% LTV, down 60bps to 5.17%     

BTL reductions    

• Five-year expat landlord fixes at 75% LTV, down 60bps to 6.27%    

Saffron for Intermediaries head of business development Tony Hall adds: “As the market evolves, we want to ensure we adapt with it.   

“This latest round of rate reductions is a testament to our goal of providing affordable mortgage support to those with specialist requirements and complex sources of income.”