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, we will be closing products at 8pm Thursday 23 February.
We will be launching new products at 8am Friday 24 February.
Here’s what’s changing:
Owner-Occupied
(new business, porting, further advances and product transfers)
- Reducing standard 5 Year Fixed rates across 65%-85% LTV (inc. existing client rates)
- Reducing standard 2 & 3 Year Fixed 85% LTV rates (inc. existing client rates)
- Reducing all 2 Year Tracker rates
Buy to Let
(new business, porting, further advances and product transfers)
- Reducing all existing client 2 & 5 Year Fixed BTL and Portfolio Landlord BTL 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 23 February 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 23 February.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8pm Thursday 23 February.
Pending product transfer paper application packs and requests received between today’s date and 8pm Thursday 23 February need to be fully completed, signed by all applicants, and returned within 48 hours of the date of illustration.