Coventry for Intermediaries widens BTL criteria

Coventry for Intermediaries has made a number of changes to its buy-to-let proposition. These include upping the number of buy-to-let mortgages allowed with the group from three to five, increasing the aggregate loan limit on all rental properties from £1m to £2m, and increasing the maximum loan amount at 50 to 75 per cent loan-to-value from £500,000 to £750,000.

Coventry has also increased the income threshold for 125 per cent interest cover ratio from less than £42,500 to less than £49,000.

The society has also introduced a mortgage range specifically for landlords with four or more mortgaged buy-to-let properties in total, either together or separately.

Coventry Building Society director of intermediaries Kevin Purvey says: “We’ve made these changes so that brokers can bring more of their buy-to-let clients to us, and benefit from the simplicity that we bring to the market.”

“Our offering for portfolio landlords is particularly straightforward. We don’t ask portfolio landlords for a business plan; instead, there’s just one portfolio document to complete which allows us to underwrite the case immediately. And our new range of products specifically for portfolio landlords further supports the proposition.”


Accord hires regional sales manager from the Coventry

Accord Mortgages has recruited a new regional sales manager, who joins from Coventry Building Society. Claire Chick (pictured) has today, 1 October joined the intermediary arm of Yorkshire Building Society. She has worked in financial services for more than 25 years, including the past four as intermediary business development team manager at the Coventry. Prior to […]


Nationwide launches increased automatic verification

Nationwide Building Society has introduced a character recognition tool for mortgage affordability assessments. ‘Intelligent Capture’ provides a digital read on documents, with the ability for the tool to identify text and values from an image and then extrapolate the information into a digital format. Nationwide says the tool will speed up affordability assessments for intermediaries, […]

Life after the CML

By Roy Armitage, head of credit at LendInvest Last month saw three-quarters of the membership of the Council of Mortgage Lenders (CML) vote in favour of plans to create a super-trade body, which would see the CML merge with the likes of the British Bankers’ Association and Payments UK. There is little room for misty-eyed […]


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