Coventry Building Society is increasing rates on its 85 per cent loan-to-value deals by up to 20 basis points on Friday.

Brokers wishing to submit deals at current rates have until 8pm tomorrow (Thursday) to do so.

For purchase, remortgage, product transfer and further advance the following 85 per cent LTV rates are rising:

• Two-year fixed rate at 1.75 per cent with a £999 fee will increase to 1.9 per cent
• Fee-free two-year fixed at 2.15 per cent will increase to 2.3 per cent
• Five-year fixed at 2.15 per cent with a £999 fee will increase to 2.25 per cent
• Fee-free five-year fixed at 2.35 per cent will increase to 2.45 per cent

The lender is also increasing rates on its 85 per cent LTV offset deals:

• Offset two-year fixed at 1.85 per cent with a £999 fee will increase to 2 per cent
• Offset five-year fixed at 2.2 per cent with a £999 fee will increase to 2.4 per cent

The rate changes come after Coventry returned to 90 per cent LTV lending for just one weekend, offering the deals from Friday 12 to Monday 15 June only.