Coventry for Intermediaries has reintroduced 85% LTV products for purchases and remortgages to its Owner Occupied range.
It has also cut rates on all products with an LTV of 75% or under.
All buy-to-let products have had their rates cut and LTVs of 75% are now available for both purchases and remortgage.
Coventry for Intermediaries has also made a number of criteria enhancements and improvements to the valuation process.
Changes include:
- 85% LTV available for Owner-Occupied purchases and remortgages
- Rates lowered on entire buy-to-let range for purchases and remortgages
- Rates lowered on Residential range for mortgages up to 75% LTV
- Enhanced electronic valuations on residential and buy-to-let properties combined with physical valuations where necessary
- Capital raising on Owner-Occupied mortgages for PAYE clients increased 75% LTV
- Capital raising on buy-to-let 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 have launched a range of 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.”
