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 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 12 June.
We will be launching new products at 8am Tuesday 13 June.
Here’s what’s changing:
Owner-Occupied (new business)
- Increasing all 2, 3 & 5 Year Fixed New Business rates (incl. Offset, Interest-only & Offset Interest-only)
- No changes to existing customer only rates (product transfer and further advance)
Buy to Let (new business)
- Changing selected BTL and Portfolio BTL new business rates
- No changes to existing customer only rates (product transfer and further advance)
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 12 June will not be accepted.
Product updates
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 Thursday 15 June.
We will be launching new products at 8am Friday 16 June.
Here’s what’s changing:
Residential (new business, porting, further advances and product transfers)
- Increasing all Fixed rates including Offset, Interest-only and Offset Interest-only (excluding Green Further Advance rates)
- Closing all Tracker rates
Buy to Let (new business, porting, further advances and product transfers)
- Increase all BTL and Portfolio BTL Fixed rates (excluding Green Further Advance rates)
- Closing all BTL and Portfolio BTL 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 Thursday 15 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 Thursday 15 June.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm Thursday 15 June.
Pending product transfer paper application packs and requests received between today’s date and 8pm Thursday 15 June need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.