Coventry Intermediary mortgage rates are cut.
In a climate of increasing mortgage rates it is good news for home-owners when lenders announce they are to make rate reductions.
At the moment more mortgage rates are increasing than decreasing with SVR increases and lenders advising of rate changes due to rising funding costs. However one lender has announced a rate cut.
Coventry has announced a reduction on both mortgage rates and fees across a range of selected products in its Godiva buy to let mortgage range.
The lender is now to offer a new range of reduced rates for both 2 year fixed deals and Flexx for Term.
The new 2 year fixed rate reduction will apply to the lender's 65 per cent loan to value products.
A rate of 4.30 per cent, which is a 0.19 per cent reduction, will now be offered with no mortgage arrangement fee but a £250 mortgage booking fee. A rate of 3.99 per cent will be offered for the same LTV but the product will come with a £250 mortgage booking fee and a £749 mortgage arrangement fee.
The Coventry has also reduced its Flexx for Term rate from 4.75 per cent to 4.49 per cent which is offered for up to 65 per cent LTV, and comes with a £250 mortgage booking fee but no mortgage arrangement fee or early repayment charge.
If you are interested in comparing Coventry mortgage rates with those on offer from other UK lenders call Deal Direct.
