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 updating 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 Wednesday 19 October.
Current rates will be available until 8pm Tuesday 18 October.
Here’s what’s changing:
Owner-Occupied
(new business, porting, further advances and product transfers)
- Increasing New Business 5 year Offset Interest-only rate
- Reducing 2 Year Tracker rates
Buy to Let
(new business, porting, further advances and product transfers)
- No changes
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 Tuesday 18 October 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 Tuesday 18 October.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm Tuesday 18 October.
Pending product transfer paper application packs and requests received between today’s date and 8pm Tuesday 18 October need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.
Coventry for intermediaries re-launches Residential 2 year fixed rates
Coventry for intermediaries has launched 2 year fixed rates at 75% and 85% LTV with no fee.
They have also reduced their Residential 2 year tracker rates by 17bps.
Their BTL range has expanded, with 5 year fixed rates at 65% LTV being added to the range, with
options available for new and existing clients, including Portfolio Landlords.
Products included in their range:
- 6.19% 2 Year Fixed to 30.04.2025 with ERCs until 30.04.2025 75% LTV, £0 product fee.
(Available for all borrowers) - BBR Tracker + 0.78% to 30.04.2025 with no ERCs 65% LTV, £999 product fee (Available for
all borrowers)
We’ve re-launched 2 year fixed rates for Residential clients
We want to continue to support those who need a short-term fixed rate – that’s why we’ve launched 2 year fixes at 75% and 85% LTV with no fee.
Our recently launched Residential 2 year tracker rates have also been reduced by 17bps.
For our BTL range, we’ve launched 5 year fixed rates at 65% LTV, with options available for new and existing clients, including Portfolio Landlords.