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Coventry reduces buy-to-let rates

Coventry for intermediaries has reduced rates on its five-year fixed rate buy-to-let and portfolio mortgages by up to 0.2%.

Five-year rates now start at 1.79%, down from 1.95%, on loans of up to 50% loan-to-value (LTV), subject to a £1,999 product fee.

The lender has also reduced its five-year fixed rate product at 65%LTV from 2.05% to 1.85% with a £1,999 fee.

Kevin Purvey, director of intermediaries, said: “At a time of instability and uncertainty in the buy-to-let market, our reductions will be a great boost for brokers and their landlord clients. 

“With competitive rates and the certainty of fixed mortgage payments, these products will suit a range of landlords.”

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