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, we’re giving you two working days’ notice of product closures
Closures will come into effect from: 8pm Monday 20 November
To secure a product, you’ll need to submit the application in full before 8pm on the closure date above. This applies to both new business cases and product transfers.
Any new products will be launched from 8am the date following closure.
Here’s what’s changing:
Residential – New Borrowers
- Reducing all Fixed Purchase rates
- Reducing all 2 Year Fee Remortgage rates at 80% & 85% LTV
- Reducing all 2 Year Fixed No Fee Remortgage rates
- Reducing all 3 Year Remortgage rates
- Reducing all 5 Year Fee Remortgage rates
- Reducing all 5 Year No Fee Remortgage rates, excluding rates at 65% & 80% LTV
Residential – Existing Borrowers
- Reducing all Fixed rates
Buy to Let & Portfolio Buy to Let – New Borrowers
- Reducing all Fixed rates
Buy to Let & Portfolio Buy to Let – Existing Borrowers
- Reducing all Fixed rates
Remember – Pending product transfer paper application requests must be signed and sent back to us within 48 hours of the date of illustration.
There are no changes to our product range other than those listed.
Lending criteria
Check your clients are eligible for a mortgage with us.
Reductions across selected fixed rates
We’ve reduced the majority of new business fixed rates within our residential range. Plus, all fixed products have reduced within our existing client range.
As we’re committed to supporting first time buyers (FTBs), selected FTB products at 95% LTV are included within our rate reduction, to help your clients achieve their dream of being homeowners.
Our residential range also includes reductions on selected remortgage products, so now may be the right time to contact your clients who are thinking of remortgaging.