"This is great news for both brokers and their clients, particularly for those with smaller deposits as the larger reductions have been made to the higher LTV products."
Highlights include a two-year fixed rate at 85% LTV, which has been reduced from 2.85% to 2.15% with a £999 fee, available for purchase only.
A five-year fixed rate at 85% LTV has been lowered from 3.25% to 2.65% with a £999 fee and is available for purchase, remortgage, product transfer and further advance.
The lender has also reduced rates on its interest-only and product transfer ranges.
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “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.
“We’re delighted to introduce these rate reductions and make our products even more competitive. This is great news for both brokers and their clients, particularly for those with smaller deposits as the larger reductions have been made to the higher LTV products.”
