Coventry launches new high-LTV products in range expansion

As part of the changes, the Society has opened up its 75% LTV offset two and five-year fixed rates to all borrowers and has launched an interest-only offset product at 50% LTV.

New buy-to-let five-year fee-free fixed rates and two-year trackers are also available for standard and portfolio landlords at 65-75% LTV.

In addition, Coventry has launched soft footprint credit checks for Agreements In Principle.

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.

Jonathan Stinton, head of intermediary relationships at Coventry for intermediaries, said: “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. 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.

"Changing the way we perform credit checks on clients’ mortgage applications is a positive change for homebuyers.

“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.”