Coventry for intermediaries is updating their Residential affordability calculator. They are also increasing the reference rate for Portfolio Landlords, the whole portfolio will need to be stressed at 6.5%.
Changes will come into effect on Friday 28 July.
To secure your client’s application using their current affordability calculator, or current portfolio reference rate, a full mortgage application must be submitted by 8pm on Thursday 27 July. Pipeline cases will not be affected.