Coventry reduces standard variable rate

Following January's Bank of England MPC announcement, Coventry Building Society is reducing its standard variable mortgage rate to 4.74%.

The Coventry's Privilege mortgage rate, for borrowing members of five years or more, will reduce to 4.49%.

These rate changes are effective from 1 February 2009 for existing customers.

Customers wishing to apply for any of the Coventry's mortgages should visit thecoventry.co.uk