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, our latest changes will come into effect from 8am Tuesday 04 October.
Current rates will be available until 8pm Monday 03 October.
Here’s what’s changing:
Owner-Occupied
- Increasing all 75% and 85% LTV standard 5 Year Fixed rates
- No changes to Offset or Interest-only rates
- No changes to existing customer only (product transfer and further advance) rates
Buy to Let
- No changes
We’re updating our rates
8pm Wednesday 5 October
We will be withdrawing the following products
- OFU43 – 5.42% 5 year fixed Offset
- IO080 – 5.40% 5 year fixed Interest Only
8pm Thursday 6 October
We will be withdrawing the following products
Owner-Occupied (product transfers and further advances)
- 5 year fixed 65% LTV product transfer and further advance only rates
Buy to Let (product transfers and further advances)
- 2 & 5 year fixed BTL & Portfolio Landlord BTL product transfer and further advance only rates
8am Friday 7 October
We will be launching the following products
Owner-Occupied
- New Offset and Interest-only five year fixed rates (new business, porting, further advances and product transfers)
- New 2 & 5 year fixed product transfer and further advance only rates across standard, Interest-only and Offset ranges
Buy to Let
- New 5 year fixed BTL & Portfolio Landlord BTL rates (new business, porting, further advances and product transfers)
- Increased 5 year fixed BTL & Portfolio Landlord BTL product transfer and further advance only rates
We’re updating our affordability calculator
As part of our ongoing affordability review and to reflect the current economic outlook, we are updating our affordability calculator.
Changes will come into effect on Thursday 6 October.
To secure your client’s application using the current affordability calculator, a full mortgage application must be submitted by 8pm on Wednesday 5 October. All applications received after this time will be reassessed with our updated affordability calculator.
BTL Product Range updates
We are launching 5 year fixed rates only for standard BTL and Portfolio Landlords. A new and existing customer range will be available