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 closing some of our rates
True to our pledge to give you two days’ notice of product closures, our latest changes will come into effect from 8am Friday 16 September.
Current rates will be available until 8pm Thursday 15 September.
Here’s what’s changing:
Owner-Occupied
New business, porting, further advances and product transfers
- Withdrawing all 2 year new business standard residential rates
- No changes to Offset or Interest-only rates
- No changes to existing customer only (product transfer and further advance) rates
Buy to Let
New business, porting, further advances and product transfers
- Withdrawing all 5 year standard BTL £1999 fee rates
- No changes to Portfolio Landlord 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 15 September 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 on Thursday 15 September.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm on Thursday 15 September.
Pending product transfer paper application packs and requests received between today’s date and 8pm Thursday 15 September need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.
ur new 3 year products are rate matched to our 2 year fixed range
Your Residential clients now have the choice to fix for 2 or 3 years, and no matter which term they choose, the rate will be the same.
We’ve reduced selected 2 and 5 year Residential rates by up to 23bps, including our Offset range. Selected Interest-only rates have also been decreased by up to 26bps.
And selected standard BTL rates have been reduced by up to 32bps.