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
In line with our commitment to give you two days’ notice of product closures, our latest changes will come into effect from 8am Friday 11 November.
Current rates will be available until 8pm Thursday 10 November.
Here’s what’s changing:
Owner-Occupied
(new business, porting, further advances and product transfers)
- Reducing 2, 3 & 5 Year standard Fixed rates across 65%-85% LTV
- Reducing 75% & 85% LTV 2 Year Fixed Product Transfer & Further Advance only rates
- Reducing 85% & 90% LTV 5 Year Fixed Product Transfer & Further Advance only rates
- No changes to Offset & Interest-only (incl. Offset Interest-only)
Buy to Let
(new business, porting, further advances and product transfers)
- No changes to standard BTL or Portfolio Landlord Fixed 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 10 November 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 Thursday 10 November.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm Thursday 10 November.
Pending product transfer paper application packs and requests received between today’s date and 8pm Thursday 10 November need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.