Coventry Intermediaries has launched a new range of 85 per cent loan-to-value (LTV) residential mortgages and cuts rates for first time buyers to 4.99 per cent.
It continues a growing trend across the lending market, which has seen prices slashed across the board, initially for those with large deposits and later for first-time-buyers and those with less money saved.
Coventry’s two-year fixed rates start from 4.33 per cent and feature a £199 booking fee and £800 arrangement fee.
Alternatively, it is also offering a 4.53 per cent two year fixed rate on an 85 per cent loan-to-value (LTV) with a £199 booking fee and no arrangement fee.
For first-time-buyers, the 4.99 per cent rate is down from 5.19 per cent. It features £199 booking fee, no arrangement fee and £500 in Ikea vouchers.
Godiva mortgages managing director Colin Franklin said: “With a choice of fee structures, borrowers can now enjoy the benefits of our fantastic residential and offset 2 year fixed rate mortgages.”
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