Mortgage News
Coventry BS to notify advisers before contacting mortgage term-end customers
Coventry for Intermediaries is to inform brokers when the lender writes to borrowers as their mortgage deal comes to an end.
The lender said it wants to make sure brokers are front and centre when their client’s residential or buy-to-let loan is close to maturing.
In the letter to customers, Coventry will recommend borrowers get in touch with their broker when considering their next steps.
Kevin Purvey, director of intermediaries (pictured), said: “Changing a mortgage is a big decision and we believe that brokers should be at the centre of this process.
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“That’s why the letter we write to borrowers points them back to their brokers, why we let the brokers know that we’re writing to their client and why we’ve taken the additional step of sharing the letter with them too.
“As well as making sure brokers are included in the maturity process, it shows how much we value the role they play.”