The mutual also launches soft footprint credit checks for AIPs
Coventry for Intermediaries has expanded its new business range, launching first-time buyer fee-free products at 90% and 95% LTV, increasing options on its offset products, and adding more products to its buy-to-let range.
The first-time buyer products are also available with £500 cashback, while the 75% offset two- and five-year fixed rates are now open to all borrowers.
The mutual now offers interest-only offset for clients with 50% LTV. New BTL five-year fee-free fixed-rate and two-year trackers are available to standard and portfolio landlords at 65% to 75% LTV.
“We’re continuing to support the market by expanding our range to give brokers and their clients a greater choice of rates across a broader selection of products,” Jonathan Stinton (pictured), head of intermediary relationships at Coventry for Intermediaries, said. “As we introduce more variety, we’re focusing on products brokers are asking for and we’re looking to expand our range further in future. This approach allows us to maintain the high levels of service our intermediary partners and their clients have come to expect from us.”
Meanwhile, Coventry for Intermediaries has also launched soft footprint credit checks for agreements in principle (AIP), looking to improve the homebuying process.
The change will mean a soft footprint is made against a client’s credit record when obtaining an AIP. A hard footprint will only be left once the full application is submitted.
“Changing the way we perform credit checks on clients’ mortgage applications is a positive change for homebuyers,” Stinton said. “We understand that hard credit checks can be a concern for anyone purchasing a home, and especially first-time buyers. This is one of many exciting developments happening this year to really help brokers give their clients the best experience.”
