Coventry for Intermediaries has brought back 85 per cent loan-to-value products and cut rates on a number of deals.

The building society previously restricted lending to 65 per cent loan-to-value when lockdown restrictions made it impossible to carry out physical valuations, but later increased its maximum LTV back up to 75 per cent. 

Today it is going a step further by reintroducing purchase and remortgage deals at 85 per cent loan-to-value for owner occupiers.

The maximum LTV for buy-to-let borrowers is now 75 per cent.

In its 85 per cent LTV range for residential purchase and remortgage, two-year fixed rates now start from 1.75 per cent and five-year fixed rates start from 2.15 per cent, both with a £999 fee.

Fee-free alternatives start at 2.15 per cent for a two-year fixed or 2.35 per cent for a five-year deal.

The lender has cut rates in its 75 per cent LTV tier by up to 0.2 percentage points, with two-year fixes now starting from 1.3 per cent with a £999 fee.

Coventry says it has also enhanced its electronic valuation process, which can be combined with physical property inspections where necessary.

The lender has increased its capital raising facility up to 75 per cent LTV for both residential borrowers and landlords. 

Coventry director of mortgage distribution Kevin Purvey says: “We have launched a range of competitive products, paired with new criteria, such as the re-introduction of capital raising, to help support brokers and their clients.

“While physical valuations are returning, and we will use where appropriate, we are continuing to benefit and evolve our use of electronic valuations and the enhancements introduced will benefit our broker partners and their clients.

“Our service levels remain as strong as ever and we’re well placed to deal with high demand. 

“Our call centre has dealt with enquiries as normal throughout the covid-19 crisis and our business development managers continue to carry out their regular appointments with brokers and advisers over the phone and on Zoom.”