Coventry for intermediaries is the latest lender to trim rates, bringing down the cost of selected residential mortgages by up to 30 bps.

The lender has cut the cost of two, three and five-year fixes, with deals available to both new and existing customers. The covers LTVs from 65% to 95%, with various fee options.

As a result of this rate cut Coventry is now offering a five-year fix rate at 4.88% at 85% LTV through its intermediary channel. This offers a £500 cashback and is available for first time buyers.

It is also offering a two-year five at 4.89% (at 75% LTV). This comes with a £999 product fee and is available to existing customer only.