Coventry for intermediaries is updating their rates.
True to their pledge to give you two days’ notice of product closures, their latest changes will come into effect from 8 am Thursday 22 September.
Current rates will be available until 8 pm Wednesday 21 September.
Here’s what’s changing:
Owner-Occupied
New business, porting, further advances and product transfers
- Increasing all 3 & 5 Year Fixed rates
- Increasing all Offset, Interest-only and Interest-only Offset rates
- Increasing all existing customer only (product transfer and further advance) rates
- Reintroducing 2 Year Fixed rates
- Extending all Fixed product end dates to April
Buy to Let
New business, porting, further advances and product transfers
- Increasing all 5 Year Fixed BTL and Portfolio Landlord BTL rates
- Reintroducing 5 Year Fixed £1999 fee BTL rates
- Extending all Fixed product end dates to April
New business cases
For new business cases, remember, an AIP does not secure a closing product. If an AIP refers, they can’t guarantee they’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 Wednesday 21 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 8 pm on Wednesday 21 September.
Product transfer paper application packs already provided need to be fully completed, signed by all applicants, and returned by 8 pm on Wednesday 21 September.
Pending product transfer paper application packs and requests received between today’s date and 8 pm Wednesday 21 September need to be fully completed, signed by all applicants and returned within 48 hours of the date of illustration.