Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.

Coventry Reduces Selected Residential and Buy-to-Let Mortgage Rates

Coventry for intermediaries has announced reductions on selected residential and buy-to-let mortgage rates. Residential rates have been cut by up to 15 basis points, while buy-to-let rates have been reduced by up to 8 basis points.

The changes apply to options available for both new and existing customers. Among the updated products is a two-year fixed rate at 4.98% until the end of December 2028, with a 90% loan-to-value (LTV) and a £999 fee. This product is available for first-time buyers and includes £500 cashback.

For buy-to-let customers, Coventry is offering a five-year fixed rate at 5.41% until the end of December 2031, with a 75% LTV and no fee. This option is available for limited company buy-to-let remortgages on properties with an EPC rating of A-C.

These changes may be relevant to letting agents and inventory clerks monitoring mortgage product updates for landlords and first-time buyers.