Coventry returns to 75% lending for BTL and 85% for residential and cuts rates

Coventry for Intermediaries introduces 85% LTV for Residential, cuts rates and makes numerous criteria enhancements

Coventry for intermediaries has introduced 85% LTV purchases and remortgages to its Owner Occupied range as well as reducing rates on a majority of products. BTL LTV’s have also been increased to 75% for purchases and remortgage, with rate cuts across the range.

They have also made a number of criteria enhancements and improvements to the valuation process.

Highlights include:

  • 85% LTV available for Owner-Occupied purchases and remortgages
  • 75% LTV available for BTL purchases and remortgages
  • Rates lowered on entire BTL range for purchases and remortgages
  • Rates lowered on Residential range for mortgages up to 75% LTV
  • Enhanced electronic valuations on residential and BTL properties combined with physical valuations where necessary
  • Capital raising on Owner-Occupied mortgages for PAYE clients increased to 75% LTV
  • Capital raising on BTL mortgages increased to 75% LTV – including property related purposes, not just essential repairs

 

Kevin Purvey, Director of Mortgage Distribution at Coventry Building Society, said:

“We’ve launched higher LTV competitive products, paired with new criteria, such as the re-introduction of capital raising, to help support brokers and their clients.

“Whilst physical valuations are returning, and we will use where appropriate, we are continuing to benefit and evolve our use of electronic valuations and the enhancements introduced will benefit our broker partners and their clients.

“Our service levels remain as strong as ever and we’re well placed to deal with high demand. Our call centre has dealt with enquiries as normal throughout the Covid-19 crisis and our BDMs continue to carry out their regular appointments with brokers and advisers over the phone and on Zoom. Now is the time for brokers to get in touch with their BDM and find out how we can help them and their clients.”

For more information visit https://www.coventrybuildingsociety.co.uk/intermediaries/

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