Coventry for intermediaries has cut selected high loan-to-value residential fixed-rate offers by up to 14 basis points, while YBS Commercial Mortgages will reduce some real estate products by up to 25bps.
The broker-only arm of Coventry Building Society says it has cut some residential rates between 90% LTV and 95% LTV by up to 14bps.
It points out that a number of these products are aimed at first-time buyers and come with £500 cashback.
The lender adds that its buy-to-let rates have been “across the board” by up to 11bps.
- Two-year fixes at 90% LTV at 5.41% until 31 August 2027, without a product fee, available for FTBs, with £500 cashback
- Five-year fixes at 75% LTV at 4.72% until 31 August 2030, with a £1,999 product fee, available for BTL remortgages
Coventry Building Society head of intermediary relationships Jonathan Stinton, says: “We’re reducing rates at higher-loan-to-values with a focus on supporting home movers as well as FTBs and the brokers who help them.
“Most of our FTB rates also come with cashback, which can give a helpful boost towards moving costs.”
Meanwhile, YBS Commercial Mortgages reduced rates by 15bps on its five-year fixed rate semi-commercial range, designed for part-residential, part-commercial assets.
It has also cut rates by up to 15bps on its commercial investment range for loans on retail, office, industrial, warehousing, quality leisure facilities and other kinds of commercial property.
The lender says its SME product aimed at those who occupy their property for business purposes, owner-occupied, also sees a discount of 20bps.
Highlights of the new range include:
- Five-year fixes for semi-commercial clients at 6.40%, from 6.55%, up to 60% LTV, with a 2% fee
- Five-year fixes for commercial investment clients at 6.84%, from 6.99%, on loans over £1m, up to 75% LTV, with a 2% fee
The commercial lender is also offering a further discount of 25bps for borrowers looking for funding on small to medium-sized, good-quality warehouses, light-manufacturing and industrial units if they meet specified criteria.
To qualify for the discount, properties should have been built within the last 20 years, be located in established industrial or commercial areas, and have an energy performance certificate rating of A to C.
YBS Commercial Mortgages interim managing director Angela Norman says: “These changes reflect our desire to pass on value wherever we can to brokers and their clients, maintaining our commitment to the commercial market.
“Including a discount on industrial units which meet specific criteria allows us to incentivise commercial landlords who offer higher-quality properties, providing them with better product choice and value, although we encourage applications from those who might not qualify, but can benefit from our standard product option.”
