Coventry enhances lending criteria with increased LTV and loan limits

Coventry for intermediaries has announced a series of updates to its lending criteria, designed to give brokers greater flexibility and open up more options for their clients.

The changes include updates to the lender's affordability assessment – meaning some applicants may be able to borrow more.

Coventry has raised maximum loan amounts up to £3million for residential applications and £1.5m for buy-to-let applications.

It has also increased maximum LTV limits across residential and buy-to-let, and increased LTV limits for self-employed capital raising to 75%.

Jonathan Stinton, head of intermediary relationships at Coventry Building Society, said: “We’ve made these changes to ensure our criteria remains competitive and continues to meet the needs of brokers and their clients. By increasing maximum loan amounts and LTV limits, we’re making it possible for more borrowers to access the funding they need.

“We know how important it is for brokers to have lenders they can rely on, which is why we’re committed to evolving our criteria in ways that make their job easier. These updates are part of our ongoing commitment to support our intermediary partners and to provide solutions that genuinely work for their clients.”