Mortgages  

Coventry Intermediaries slashes residential rates

Coventry Intermediaries has cut its rates by up to 0.26 per cent on its residential range with two- year fixed options from just 2.59 per cent at 85 per cent loan-to-value.

The new rates include a two-year fixed mortgage at 2.59 per cent, reduced from 2.75 per cent at 85 per cent LTV, with a £800 arrangement fee and early repayment charges payable to the end of 2016.

A two-year fixed mortgage has also been reduced to 3.39 per cent from 3.65 per cent until the end of 2016, at 90 per cent LTV with a £300 arrangement fee and early repayment charges payable to the end of 2016.

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Rates on five-year fixed mortgages have also been cut; a 3.69 per cent rate reduced from 3.79 at 85 per cent LTV has an £800 arrangement fee and early repayment charges payable to the end of 2019.

The other five-year fixed rate is at 4.35 per cent, reduced from 4.49 per cent, at 90 per cent LTV with no arrangement fee and early repayment charges payable to the end of 2019.

Darin Landon, distribution director, said: “Hot on the heels of the chancellor’s recent announcement on stamp duty there is more good news for homebuyers.

“We have cut rates on selected two and five year fixed rates at 85 per cent and 90 per cent LTV with great rates starting from just 2.59 per cent.”

ruth.gillbe@ft.com