Coventry Building Society has reduced selected mortgage rates for first-time buyers and limited company buy to let (BTL), with limited options for new borrowers.
The mutual has reduced rates for first-time buyers by up to 11 basis points (bps) and pricing for limited company BTL by as much as 25bps.
Its first-time buyer options include a five-year fix 65% loan to value (LTV) deal priced at 4.94% with no fee, while the corresponding option at 75% LTV has been priced at 4.99%.
Across its two-year fixes for first-time buyers, there is a 65% LTV product with a £999 fee, priced at 5.06%.
For limited company BTL borrowers purchasing a property, the two-year fix at 75% LTV with a £3,999 fee has a rate of 5.52%, while the five-year fixed equivalent is priced at 5.58%.
Ben Williams, corporate account manager at Coventry Building Society, said: “These rate reductions will be welcome news for brokers and their clients who are either looking to get their first home or are managing a rental portfolio.
The growth of ‘just-off-high-street’ lending
Sponsored by Pepper Money
“We’ve seen a period of uncertainty within the market and rates have been increasing on the whole. These reductions will not only add greater choice for anyone looking at their mortgage options, they may also create a little more confidence that the market remains competitive.”