Coventry for Intermediaries has lowered the rates on selected offset mortgages by up to 36 basis points.
The changes apply to most loan to values (LTVs).
New deals in offset range include:
- 1.35% (was 1.59%) two-year fixed to 30/09/23 with ERCs until 30.09.23. 65% LTV, £999 product fee. Purchase product.
- 1.55% (was 1.79%) five-year fixed to 30/09/26 with ERCs until 30.09.26. 65% LTV, £999 product fee. Purchase product.
Both of the above products are also available for product transfer and remortgage.
Jonathan Stinton, head of intermediary relationships at the Coventry Building Society, said: “Our offset mortgages are now even more competitive, which is great news for brokers and their clients. Offset is a fantastic way for borrowers to make their savings work harder by saving mortgage interest and either reducing monthly payments, make the mortgage term shorter or pay off the mortgage early. And who doesn’t want that?
“For brokers, offset gives them more touch points with their clients. Rather than just checking in towards the end of a client’s fixed rate mortgage, brokers could get in touch on an annual basis to see how their clients are progressing with their savings goals, and offer support if needed.”