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Coventry rate changes

ended 23. March 2023

Coventry this morning announced it has updated its range….

  • We’ve reduced all BTL and portfolio landlord fixed rate products by up to 1%
  • We’ve introduced a competitive range of 80% LTV residential products
  • We’ve reduced all new business standard fixed rates across 65%-75% LTV

Any thoughts, whizz them over.

3 responses from the Newspage community

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Katy Eatenton
Mortgage & Protection Specialist at Eatenton Finance
This is really positive news for the mortgage market. Even with base rate uncertainty and the unexpected rise in inflation, lenders are still wanting to lend. The buy-to-let market is looking better than it has in the past six months, although there’s still a way to go to enable higher LTV borrowing, especially in London and the South East.
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Jamie Alexander
Mortgage Director at Alexander Southwell Mortgages
This is welcomed and excellent news. Before the mini-Budget, Coventry was one of our most used lenders for buy-to-let mortgages. With such a large drop, this will 100% make them more competitive in the market again. It's also a very positive move for the residential market as well, with Coventry specialising in the limited company director sector this will provide excellent lower-cost options for many more clients.
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Gary Boakes
Director at Verve Financial
This is great news, and we have seen some positive moves in the BTL market over the past few weeks, There's still a long way to go before we see the buy-to-let market recover, though. Hopefully, the rates coming down at 80%-65% LTV will start to convince people to start putting their properties on the market as it is not likely to be a benefit to first-time buyers.