Coventry for intermediaries reduces its 5 Year+ Fixed rate BTL reference rate to 4.5%

Coventry for intermediaries has reduced the reference rate on its BTL 5 Year+ Fixed rate products from 5% to 4.5%. This means landlords could be eligible to borrow more if they opt for the security of a longer-term product.


Jonathan Stinton, Head of Intermediary Relationships, says, “This is a positive change to our lending policy and one that will benefit our brokers’ clients. Along with our straightforward BTL policy which includes a simple ICR calculation as well as no minimum income or minimum time in employment criteria, reducing the reference rate demonstrates our ongoing commitment to the Buy to Let market.


As with all of Coventry’s standard BTL lending criteria, the change also applies to portfolio landlord applications. If a client with four or more Buy to Let properties chooses a Five Year+ Fixed product on the subject property, they could also benefit from an increased loan amount.


Jonathan says, “I’d encourage brokers to try our BTL calculator to see how much their landlord clients could borrow. And they can speak to one of their BDMs or use our live CFI web chat if they have any questions about the change.”


You can find the calculator at