Coventry cuts rates for residential and buy-to-let
01-17-2015
By Emma Ann Hughes
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Lower rates are available on two and five-year fixed rates and residential Flexx for Term options at Coventry Intermediaries from today (16 January).
A residential two-year fixed rate deal is now 2.85 per cent, reduced from 2.99 per cent until 31 March 2017, at 85 per cent LTV, with no arrangement fee and early repayment charges payable to the same date.
A five-year fixed rate is now 3.99 per cent, reduced from 4.15 per cent, until 31 March 2020, at 90 per cent LTV, with a £950 arrangement fee, and ERCs payable to the same date.
Flexx For Term is now at 2.35 per cent, reduced from 2.59 per cent, at a variable rate for 85 per cent LTV, £800 arrangement fee and no ERCs.
On buy-to-let there is a five-year Flexx fixed rate at 4.55 per cent, reduced from 4.8 per cent, until 30 April 2020, at 75 per cent LTV with a £1,999 arrangement fee and no ERCs.
Already this year there have been a spree of rate cuts by lenders. Earlier this week, Hinckley and Rugby Building Society cut the interest rates on seven mortgages, including two buy-to-let deals.
Accord Mortgages reduced residential five-year fixed rates by up to 0.2 per cent.
Last week Halifax cut rates across its two and five-year first-time buyer, homemover and remortgage ranges by up to 0.45 per cent, while Scottish Widows Bank took the knife to its professional and flexible mortgage product range.
Skipton Building Society also launched a new residential two-year discount mortgage range with rates from 1.69 per cent and Virgin Money announced intermediary exclusive two-year fixed rate deal at 1.84 per cent.