Kevin Purvey, Coventry’s director of intermediaries, said: “We’re delighted to add to our buy-to-let range, plus, all of our products are booking fee-free and include a valuation of up to £700 for buy-to-let mortgages.”
Coventry Building Society achieves record mortgage lending in H1
In July, the mutual reported record first half lending of £4.8bn, with buy to let playing a key role in the provider’s mortgage growth.
However, it reported that the introduction of the 3% Stamp Duty premium for second homes on 31 March had ‘distorted’ buy-to-let demand during the period and said it expected overall demand to weaken with the incoming tax relief changes and ongoing tightening of underwriting in the sector.
Last month Coventry Building Society increased the maximum age allowed at the end of term for buy-to-let investors from 75 to 85. The maximum application age for buy-to-let deals at the mutual will now be 75.
