Coventry for Intermediaries has introduced a new residential product transfer range for existing borrowers.
The range has been specifically designed for clients who are looking to change product or take out further borrowing.
The new offering contains two-year fixed products available up to 85% LTV and five-year fixed products up to 75% LTV, and also includes no product fee options.
The lender has also widened the availability of its 90% LTV residential range from first time buyers to all new borrower types.
The new product transfer range includes the following:
- 1.45% two-year fixed to 30.06.23 with ERCs until 30/06/23. 50% LTV, no product fee. (Available for product transfer and further advances)
- 1.19% two-year fixed to 30.06.23 with ERCs until 30/06/23. 65% LTV, £999 product fee. (Available for product transfer and further advances)
Jonathan Stinton, head of intermediary relationships at the Coventry Building Society, said: “A large slice of the market is still made up of clients who aren’t looking to move lender. This product transfer range gives brokers more options for their existing Coventry clients who are coming to the end of their existing mortgage deals and are looking for a straightforward switch at a competitive rate.
“The demand for higher LTV products is strong with remortgagers and home movers as well as first time buyers. We’re pleased to be able to extend our offering at 90% LTV to increase the options available to these customers.”