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’ve updated our product range
Selected rates relaunched
We’ve relaunched our Tracker rates, available to Residential and Buy to Let clients. So if your client is looking for flexibility, and can manage potential rate fluctuations then a Tracker may be suitable for them.
What you need to know
- We’ve launched Residential 2 year new business, product transfer, further advance, remortgage and FTB Tracker rates
- We’ve launched BTL 2 year new business, product transfer, further advance and remortgage Tracker rates (including portfolio landlords)
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 Thursday 13 July.
We will be launching new products at 8am Friday 14 July.
Here’s what’s changing:
Residential (new business, porting, further advances and product transfers)
- Increasing all 2 Year Fixed rates at 50% – 85% LTV (incl. Offset, Interest-only & Offset Interest-only)
- Increasing all 5 Year Fixed rates (incl. Offset, Interest-only & Offset Interest-only)
- Withdrawing all 2 Year Fixed new business rates at 90 & 95% LTV
- Withdrawing all 3 Year Fixed rates
Buy to Let (new business, porting, further advances and product transfers)
- Increasing all 2 and 5 Year Fixed BTL and Portfolio BTL 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 Thursday 13 July 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 13 July.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm Thursday 13 July.
Pending product transfer paper application packs and requests received between today’s date and 8pm Thursday 13 July need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.