Coventry for Intermediaries has re-entered the 90% loan to value (LTV) market with a range of products aimed at first time buyers, remortgagers and homeowners with smaller deposits.
The 90% LTV range offers both two-year and five-year products. New deals include the following:
- 3.29% two-year fix, with ERCs until 31/03/23. 90% LTV, £999 product fee, RMTS included. Available for purchase, remortgage, product transfer and further advances.
- 3.69% five-year Flexx, fixed to 31/03/26 with no ERCs. 90% LTV, £499 product fee, RMTS included. (Available for purchase, remortgage, product transfer and further advances)
Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “There’s plenty of demand for 90% LTV products and we’re in a position to support the market by bolstering the supply of these higher LTV deals. This provides more choice and certainty for brokers and their clients – particularly first time buyers but also movers and remortgagers.
“By offering a number of 90% deals over controlled periods in 2020, we managed to maintain excellent service levels while offering some respite to those looking for high LTV products. Our short-term launches were both popular and effective in the circumstances, but the market for 90% LTVs is now beginning to strengthen.
“We can now continue to support the market this year by offering competitive, high LTV products along with some certainty for brokers that those types of products will be available for some time.”