The product is fixed until 30th June 2023 and has a £999 product fee and early repayment charges. It is available for both purchase and product transfer.
The lender has also reduced the rates on its five-year fixed rate products at 95% LTV by 10 basis points.
Jonathan Stinton, Head of Intermediary Relationships at Coventry Building Society, said:
“This is great news for brokers and their first-time buyer clients. Our new competitive 2 Year Fixed mortgage at 95% LTV adds more choice to the market and means that more aspiring homeowners will be able to take that all-important first step on the property ladder. And the product is open to all purchase customers, so brokers can also secure a great rate for their clients looking for a higher LTV option."
“Plus, we’ve also recently widened our lending policy on bonus income and increased income multiples for loans greater than 90% LTV, so clients could borrow more.”
