Coventry cuts BTL rates by up to 16 basis points

Essex Home Finance
Coventry for Intermediaries has cut rates on selected buy-to-let deals.
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Coventry for Intermediaries has cut rates on selected buy-to-let deals by up to 16 basis points.

The reductions apply to products in its 75% LTV range.

Its five-year fixed rate at 2.45% has been cut to 2.29% with a £1,999 fee.   

Its two-year fixed rate at 1.89% has been cut to 1.79% with a £1,999 fee.

Coventry head of intermediary relationships Jonathan Stinton says: “We know there are some large spikes in borrowers coming to the end of their existing deals in the buy-to-let market over the coming months.

“These price reductions should be attractive to brokers and help their existing landlords to refinance.”

The changes come as other buy-to-let lenders have been repricing this week.

Yesterday, Landbay launched two new products for landlords with three properties or less and cut rates across other parts of its range. 

On Tuesday, Foundation Home Loans announced rate reductions across its five-year buy-to-let range and brought out a new green remortgage aimed at landlords.

Original Article from Mortgage Strategy 10/06/2021

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