Coventry for intermediaries has returned to the 90% LTV market after announcing the launch of their new Residential product range today. Brokers will be sure to welcome the good news as the new product range will help to support the intermediary market.
Coventry for intermediaries have previously released limited time tranches of 90% LTV products in recent months, however this latest 90% LTV range is set to be available for longer. The new products include 2 and 5 year options and are available for both new and existing borrowers.
They have also announced a number of other changes to their Residential range too, with many product rates reduced across all LTVs.
Their competitive 90% LTV range includes:
- 3.29% 2 Year Fixed to 31.03.23 with ERCs until 31.03.23. 90% LTV, £999 product fee, RMTS included. (Available for purchase, remortgage, product transfer and further advances)
- 3.69% 5 Year Flexx Fixed to 31.03.26 with no ERCs. 90% LTV, £499 product fee, RMTS included. (Available for purchase, remortgage, product transfer and further advances)
To ensure applications are right first time, brokers are reminded:
- For employed applicants that have returned to work following furlough, their latest wage slip is required – which will need to evidence full receipt of income.
- Self-employed applicants must have been actively trading for the last 3 consecutive months, and will be individually assessed by the underwriting team.
For support on packaging an application, read Coventry for intermediaries’ submission guidelines.
