Coventry for Intermediaries has reduced rates across its owner-occupier mortgages by up to 70 basis points.

The headline rate reduction takes place at 85% LTV, where the two-year fix with £999 product fee has been cut from 2.85% to 2.15%.

This mortgage is available for purchase only.

Also at 85% LTV, the five-year fix with £999 product fee has been reduced from 3.25% to 2.65% – a reduction of 60 basis points.

As well as purchase, borrowers may use this mortgage for a further advance, product transfer or remortgage.

The lender adds that it has cut rates across its interest-only and product transfer ranges as well.

Coventry head of intermediary relationships Jonathan Stinton says: “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 home buyers 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.”