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.
We’re updating our rates
True to our pledge to give you two days’ notice of product closures, we will be closing the following products at 8am Friday 2 September.
Current rates will be available until 8pm Thursday 1 September.
Here’s what’s changing:
Owner-Occupied
New business, porting, further advances and product transfers
- Increasing all 2 & 5 Year Fixed rates
- Increasing all Tracker rates
- Increasing all Offset, Interest-only and Interest-only Offset rates
- Increasing all existing customer only rates
- Reintroducing 90% and 95% LTV rates
Buy to Let
New business, porting, further advances and product transfers
- Increasing all 5 Year Fixed BTL and Portfolio Landlord BTL rates
- Withdrawing all BTL and Portfolio Landlord BTL Tracker rates
- Increasing all BTL and Portfolio Landlord BTL existing customer only rates
New business cases
For 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 Thursday 1 September 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 on Thursday 1 September.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm on Thursday 1 September.
Pending product transfer paper application packs and requests received between today’s date and 8pm Thursday 1 September need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.