Coventry for Intermediaries has launched 70 per cent loan-to-value (LTV) buy-to-let products.
Available from today (7 October) there is a 2.39 per cent two-year fixed rate to 31 January 2019 at 70 per cent LTV with early repayment charges (ERCs) payable to that date and a £999 arrangement fee.
There is also a 3.09 per cent five-year fixed rate to 31 January 2022 at 70 per cent LTV with ERCs payable to that date and a £999 arrangement fee.
Kevin Purvey, director of intermediaries at Coventry, said: “These new additions mean that our buy-to-let portfolio is now even stronger, with competitive rates and a range of LTVs suitable for a variety of clients.
“Plus, all of our products are booking fee free and include a valuation of up to £700 for buy-to-let mortgages.”
David Hollingworth, associate director of communications at L&C Mortgages, said: “With all the changes to stamp duty, rental requirements and tax relief for landlords it is easy to forget that mortgage rates are exceptionally low.
“With tax relief changes on the way it will be all the more important for landlords to seek out the keenest rate for them.
“Coventry’s range will typically be in the right ball park and offers a good range of rate/fee combinations coupled with free valuation and free legal work for those remortgaging.
“There’s plenty of competition from lenders such as Accord, Virgin Money and Post Office but Coventry’s improvements will keep it competitive with the five-year deal likely to appeal to those keen to switch without high costs.”
