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 increasing our rates
In line with our commitment to give you two days’ notice of product closures, we will be closing products at 8pm Monday 05 June.
We will be launching new products at 8am Tuesday 06 June.
Here’s what’s changing:
Owner-Occupied (new business, porting, further advances and product transfers)
- Increasing all 2, 3 & 5 Year Fixed rates (incl. Offset, Interest-only & Offset Interest-only)
- Increasing all Tracker rates
Buy to Let (new business, porting, further advances and product transfers)
- Increasing all 2 & 5 Year Fixed BTL & Portfolio Landlord BTL rates
- Increasing all Tracker rates
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 05 June 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 05 June.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm Monday 05 June.
Pending product transfer paper application packs and requests received between today’s date and 8pm Monday 05 June need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.
We’ve added more products
Following temporary closures last week, we have relaunched and repriced all standard fixed products.
Your existing clients could still benefit from lower rates than those in our new business range.
What you need to know
- We’ve relaunched all standard fixed products that we had previously closed
- We’re increasing all residential and Buy to Let rates
Our range includes:
