The changes apply across all loan-to-values (LTVs).

The lender has also reduced rates on its interest-only and product transfer ranges.

Highlights of the changes to the owner-occupier range include the reduction in rate from 2.85% to 2.15% on its 2-year fixed rate to 30.09.23. It is available for purchase only, up to 85% LTV.

The lender has also reduced its 5-year fix of 3.25% down to 2.65%, available for purchase, remortgage, product transfer and further advance up to 85% LTV.

Both products have a £999 product fee and early repayment charges for the duration of the fix.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “As we’re expecting a great deal of existing mortgage deals to be coming to an end in the next few months, as well as plenty of homebuyers looking to make their move before the end of the stamp duty holiday, now is the time that brokers can really be adding value for their clients.

“We’re delighted to introduce these rate reductions and make our products even more competitive. This is great news for both brokers and their clients, particularly for those with smaller deposits as the larger reductions have been made to the higher LTV products.”