View more on these topics

Coventry unveils Godiva offering

Godiva Mortgages, the new specialist lending subsidiary of Coventry is to launch tomorrow.

As part of intermediaries@theCoventry, Godiva Mortgages will build upon the Coventrys existing offering as a specialist lender for intermediaries and will feature a range of products for buy-to-let, self-cert, credit impaired and 100% plus LTV markets.

The prime residential range, including 100% LTV first-time buyer products, will continue to be available to intermediaries through Coventry.

The range of mortgages available through Godiva is attached and will include a new fee free MOREgage product with 125% LTV as a combined mortgage and unsecured personal loan.

The product is fixed at 6.49% to 31 March 2010 and has no booking fee, no arrangement fee, no valuation fee and no higher lending charge.

There will also be a range of credit-impaired products to including a near-prime fixed at 5.65% to June 2009 and a tracker at Bank of England base rate plus 0.25% until the same date.

As part of Godiva has made six pledges to intermediaries, which include no overhanging early repayment charges, no differential pricing between channels and all products to be available to existing borrowers.

Furthermore, all direct mortgage products will be available to intermediaries, there will be no cross-selling to intermediaries clients and intermediaries are to be given at least 48 hours notice when withdrawing products

Colin Franklin, managing director of Godiva Mortgages, says: Over the last few weeks, we have talked to our intermediary contacts around the country about Godiva Mortgages and the products and services we will be offering.

We are delighted to have received extremely positive feedback.

In particular, the launch of our pledges has been praised for the fairness and transparency they offer to intermediaries and their clients and only demonstrates our commitment to this specialist sector even further.


New lenders are good for consumers

The specialist market has seen a large number of lender entrants in the past couple of years. These have been either completely new lenders or brands created by established lenders as specialist offerings.

SWB lending rose 23% during 2006

Scottish Widows Bank says that mortgage lending for 2006 was £1.03bn – up 23% on 2005. It also says mortgage balances as of December 31 2006 stood at £5.6bn. 2006 was Scottish Widows Bank’s 12th successive year of growth.

Back from reality

Ruth Badger starred as a no-nonsense contestant on BBC TV’s The Apprentice but now she’s come home to the mortgage industry as the public face of The Help Group campaign to reduce lead costs, she tells Nicolette Botbol

Yousefi quits A&L to join Merrill Lynch

Mehrdad Yousefi has quit his role as head of intermediary mortgages at Alliance & Leicester after an 18-year career with the lender, to join Merrill Lynch.Mortgage Strategy can exclusively reveal that the announcement was made internally within A&L at 9.30am this morning, though a leaving date is yet to be confirmed.Yousefi is rumoured to have […]


Health Shield joins the Association of Medical Insurance Intermediaries

Health cash plan provider Health Shield has joined the Association of Medical Insurance Intermediaries (AMII) as a corporate member. The non-profit-making Friendly Society is one of eight health cash plan providers to join the intermediary trade body, which is looking to establish working parties with intermediaries and providers on issues such as product innovation and regulation.


News and expert analysis straight to your inbox

Sign up