Coventry for intermediaries will lift its entire fixed-rate residential and landlord range for new borrowers tomorrow (27 February).
The broker-only arm of the Coventry Building Society will pull products at 8pm on Tuesday, with new loans set to come to market from 8am the following day.
Its changes cover:
Residential — new borrowers
- Increasing all fixed rates
- Closing all offset rates, with no fee
Existing borrowers
- No changes to range
Buy to let and portfolio BTL — new borrowers
- Increasing all fixed rates
Existing borrowers
- No changes to range
Coventry Building Society head of intermediary relationships Jonathan Stinton says: “We’ll keep a close eye on the market movements and, as and when the market returns, we’ll look to reprice accordingly.”
The lender tells brokers that to secure a product they must submit an application in full before 8pm on Tuesday. This applies to both new business cases and product transfers.
It also points out that pending product transfer paper application requests must be signed and sent back to the firm within 48 hours of the date of illustration.
