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’re updating our rates
In line with our commitment to give you two days’ notice of product closures, we will be closing products at 8pm Monday 03 April.
We will be launching new products at 8am Tuesday 04 April.
Here’s what’s changing:
Owner-Occupied (new business, porting, further advances and product transfers)
- Reducing all 2 & 3 year Fixed rates (Excl. Interest-only, Offset & Offset Interest-only)
- Extending all end dates to October
Buy to Let (new business, porting, further advances and product transfers)
- Extending all BTL & Portfolio Landlord BTL end dates to October
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 Monday 03 April 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 Monday 03 April.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm Monday 03 April.
Pending product transfer paper application packs and requests received between today’s date and 8pm Monday 03 April need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.
Selected Residential rates lowered
We’ve lowered selected Residential rates to bring competitive products to your clients. And to add, we’ve extended end dates on all of our available products.
What you need to know
- We’ve reduced 2 year fixed Residential rates by up to 30bps
- We’ve reduced 3 year fixed Residential rates by up to 30bps.
- We’ve extended end dates on all available products.
Our range highlights:
