Coventry for Intermediaries has launched cashback remortgage products, following broker demand for additional remortgage options.
The lender has also reintroduced tracker products and lowered all residential rates.
Cashback remortgage options are available for residential cases at 65% and 75% LTV and buy to let and portfolio landlord cases at 50% LTV. These products all offer £350 cashback. Remortgage products which offer the Remortgage Transfer Service instead of the cashback option are also available.
Tracker products are available for residential and buy-to-let, with options starting from 0.28% above base rate. Residential rates have reduced by up to 90bps.
Highlights include:
- 4.35% 5 year Residential Fixed Rate to 30/06/28, 65% LTV and £999 product fee (remortgage cashback option available)
- 5.30% 5 year Buy-to-let Fixed Rate to 30/06/28, 50% LTV and £1999 product fee (remortgage cashback option available)
- 3.78% 2 year Residential BBR Tracker (BBR +0.28%) to 30/06/25, 65% LTV, £999 product fee and no ERCs
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “Remortgages are going to be an area of major focus for brokers in 2023, so we continue to support our intermediary partners with the introduction of cashback remortgage products. Products which offer our Remortgage Transfer Service are also still available, giving brokers and their clients freedom to either appoint their own solicitor or use our conveyancing service.
“We’re also supporting the market with reductions of up to 90bps for all residential products, and reintroducing trackers to the range as there’s still a strong demand for flexibility.”