Coventry Building Society has reduced rates on its BTL products by up to 38bps.
With immediate effect, a five-year fixed-rate BTL product from Coventry is available from 4.31%.
This is up to 75% LTV and with a £1,999 fee.
Elsewhere, the lender has made cuts of up to 14bps on its residential product range.
These changes are in reaction to last week’s rate cut from the Bank of England, which saw the base rate reduce from 4.25% to 4%.
“These rate reductions give brokers fresh opportunities to support clients at all stages,” said Jonathan Stinton, head of intermediary relationships at Coventry Building Society.
“It’s a great time for brokers to engage with clients and guide them to their next deal.”
