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
We are temporarily closing selected products
In line with our commitment to give you two days’ notice of product closures, we will be closing products at 8pm Wednesday 31 May.
Here’s what’s changing:
Owner-Occupied (new business)
- No changes to existing customer only (product transfer and further advance) rates
- Closing all 2, 3 & 5 Year Fixed New Business £999 fee rates (excl. Offset, Interest-only & Offset Interest-only)
- Closing all 2, 3 & 5 Year Fixed New Business rates at 65% and 80% LTV
- Closing all 2 & 5 Year Fixed New Business Offset rates at 65% LTV
Buy to Let (new business)
- No changes to existing customer only (product transfer and further advance) rates
- Closing all 2 and 5 Year Fixed BTL and Portfolio BTL New Business £1999 fee rates
- Closing all 2 and 5 Year Fixed BTL and Portfolio BTL New business rates at 50% LTV
New business cases
Remember, an AIP does not secure a closing product. If an AIP refers, we can’t guarantee we’ll be able to review it before the product is closed.
So, if your AIP does refer, you should copy the case and click through to full mortgage application to secure the product. Applications received after 8pm Wednesday 31 May will not be accepted.
Product transfers
For product transfers the following will apply:
Online product transfer cases will need to be fully submitted by 8pm Wednesday 31 May.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm Wednesday 31 May.
Pending product transfer paper application packs and requests received between today’s date and 8pm Wednesday 31 May need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.