Coventry for intermediaries has launched a 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.

It contains 2-year fixed products available up to 85% LTV and 5-year fixed products up to 75% LTV, and also offers no product fee options.

Accord updates residential affordability calculations

Included within the range are a 50% LTV 2-year fix, and a 65% LTV 2-year fix at 1.19%.

Both deals have ERCs for the duration of the term, and the latter has a £999 product fee.

As well as this, the lender has also widened the availability of its 90% LTV residential range from first-time buyers to all new borrower types.

Jonathan Stinton, head of intermediary relationships at 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 remortgagors 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.”