Coventry have announced an intermediary update which is available below. Coventry and Godiva products are available through our direct to lender mortgage club so contact our team to find out how we can help you and our business with our mortgage support.
Product updates
In line with our commitment, we’re giving you two working days’ notice of product closures
Closures will come into effect from: 8pm Wednesday 01st April
To secure a product, you’ll need to submit the application in full before 8pm on the closure date above. This applies to both new business cases and product transfers.
Any new products will be launched from 8am the day following closure.
Here’s what’s changing:
Residential
New Borrowers
- Reducing all 2 & 5 year Fixed FTB rates
Existing Borrowers
- No changes
Buy to Let and Limited Company Buy to Let
New Borrowers
- Reducing all Fixed LtdCo rates
Existing Borrowers
- No changes
Remember – Pending product transfer paper application requests must be signed and sent back to us within 48 hours of the date of illustration.
There are no changes to our product range other than those listed.
Improvement to our Ltd Co. BTL criteria
Limited company BTL is growing…
That’s why we’ve designed our range to help your landlord clients make the most of their rental income.
More choice for you. More certainty for them.
Our Limited Company BTL at a glance
- Up to four shareholders and/or directors
- Up to seven mortgaged BTL properties with us, and 15 in total
- We accept first time landlords
- No minimum income required
- 2 and 5-year fixed products
- Loans from £25,001 up to £1.5 million
At Coventry for intermediaries, we’re already specialists in the BTL market. So, when it comes to limited company BTL, our experienced underwriters, expert BDMs and an Intermediary Development team are ready to support you – every step of the way.
The broker’s guide to limited company BTL mortgages
Did you know…
- 72% of limited company BTL landlords entered the market in the past five years
- Over 50% are planning to increase their property portfolio in the next two years
- Yet, only 35% had used a broker for their most recent property purchased through the limited company, creating a significant opportunity for you
Take a look at our research* to explore market trends, insights from landlords and brokers, plus tips you can use with your clients to set yourself apart.
*White Paper on the brokers guide to limited company BTL mortgages
Our new business range is back
Our new business rates are now live!
We have re-launched our Fixed Residential (Excl. FTB CV, Offset and IO Offset), Buy to Let and Limited Company Buy to Let new business products.
Discover our range now:
Our Offset new business range is back
Our new Offset rates are live!
We have re-launched our new business Residential Offset products, including interest-only options.
Why our Offset?
- It’s easy to manage and can help save your clients money
- It can reduce the term of mortgage or monthly repayments depending on the type of mortgage and switch between the two at any time
- One Offset savings account linked to the mortgage
- Easy access to savings
- Your clients can apply to borrow more at the same rate*.
*Subject to eligibility, LTV and lending policy.