Brilliant Solutions

Coventry Update

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. 


Important changes to our portfolio landlord lending policy

We’ve made some changes to our portfolio lending policy

We’ve introduced the following changes to our portfolio landlord lending policy which comes in to effect 3 December. Any pipeline applications will not be impacted. These changes apply to how we assess the whole portfolio only.

  • We’re reducing the stress rate from 5.5% to 5% for all portfolio calculations
  • We’re increasing the minimum portfolio ICR from 125% to 145% for Higher/Additional rate tax payers (anyone earning >= £49k in England and Wales or >= £42.5k in Scotland).

    BTL lending policy    


Product updates

True to our pledge to give you two working days’ notice of product closures, our latest changes will come into effect from 8am Tuesday 8 December 2020.

Remember, an AIP does not secure a closing product. If an AIP refers, we cannot guarantee we’ll be able to review it before the product is closed.

So, if your AIP does refer, you should still proceed to full mortgage application to secure the product. Unfortunately applications received after 8pm Monday 7 December 2020 will not be accepted.

 View our product updates  

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