Coventry building society for intermediaries have sent out a communication this morning to mortgage brokers across the UK, announcing that they have made some changes to their buy-to-let mortgage offerings and also their standard UK residential mortgage products. The already popular and well established building society has added some new policies, criteria, and rates to their UK buy-to-let and residential offerings. Here is a breakdown of what these changes are:
In a nutshell, here are the main points that Coventry want us all to be aware of. They have reduce all UK buy-to-let fixed rate portfolio landlord products by up to 1%. They have introduced a competitive range of 80% loan to value residential products and they have reduced all new business standard fixed rates across 65% and 75% LTV. In both cases, buy-to-let and residential, Coventry have released a lot of new products, so we will only cover the top and most competitive ones in this blog post. However, if you would like to discuss all rates available with a professional advisor, you can call our team today for free.
Changes To UK Buy-To-Let Products
New Portfolio Property Purchases:
- 5-year fixed at 4.50% – 50% max LTV – £1,999 fee – ERCs and valuation fees are applicable
- 2-year fixed at 4.59% – 50% max LTV – £1,999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.60% – 65% max LTV – £1,999 fee – ERCs and valuation fees are applicable
- 2-year fixed at 4.69% – 65% max LTV – £1,999 fee – ERCs and valuation fees are applicable
Buy-To-Let Portfolio Remortgages:
- 5-year fixed at 4.50% – 50% max LTV – £1,999 fee – ERCs and valuation fees are applicable. £350 cashback available.
- 2-year fixed at 4.59% – 50% max LTV – £1,999 fee – ERCs and valuation fees are applicable. £350 cashback available.
- 5-year fixed at 4.60% – 65% max LTV – £1,999 fee – ERCs and valuation fees are applicable
- 2-year fixed at 4.69% – 65% max LTV – £1,999 fee – ERCs and valuation fees are applicable
Existing Coventry Portfolio Borrowers Product Transfers:
- 5-year fixed at 4.40% – 50% max LTV – £1,999 fee – ERCs and valuation fees are applicable
- 2-year fixed at 4.49% – 50% max LTV – £1,999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.50% – 65% max LTV – £1,999 fee – ERCs and valuation fees are applicable
- 2-year fixed at 4.59% – 65% max LTV – £1,999 fee – ERCs and valuation fees are applicable
Changes To UK Residential Mortgage Products
New Property Purchases:
- 5-year fixed at 4.01% – 65% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.06% – 75% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.11% – 80% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.18% – 65% max LTV – £0 fee – ERCs and valuation fees are applicable
Residential Property Remortgages:
- 5-year fixed at 4.01% – 65% max LTV – £999 fee – ERCs and valuation fees are applicable. £350 cashback available.
- 5-year fixed at 4.06% – 75% max LTV – £999 fee – ERCs and valuation fees are applicable. £350 cashback available.
- 5-year fixed at 4.11% – 80% max LTV – £999 fee – ERCs and valuation fees are applicable. £350 cashback available.
- 5-year fixed at 4.18% – 65% max LTV – £0 fee – ERCs and valuation fees are applicable. £350 cashback available.
First Time Buyer Mortgages:
- 5-year fixed at 4.01% – 65% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.06% – 75% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.11% – 80% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.18% – 65% max LTV – £0 fee – ERCs and valuation fees are applicable
Residential Product Transfers:
- 5-year fixed at 3.96% – 65% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.01% – 75% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.06% – 80% max LTV – £999 fee – ERCs and valuation fees are applicable
- 5-year fixed at 4.13% – 65% max LTV – £0 fee – ERCs and valuation fees are applicable
Speak To A Qualified Mortgage Advisor About Mortgage Rates
If you are a portfolio landlord looking to get a new property or remortgage your existing property, give our team a call today. We are experts in buy-to-let mortgages and can find the right mortgage for you. Call our team today.
