Mortgage News
Coventry BS extends maturity notice period to four months
Coventry Building Society will begin telling brokers and customers 17 weeks ahead of their mortgage product maturing.
The lender is extending the notice period by six weeks with brokers able to book a product transfer if required for their client almost immediately, as it offers a four month product offer.
Communications from Coventry BS will continue to direct customers who were introduced to the lender by a broker back to their adviser.
Coventry for Intermediaries director of intermediaries Kevin Purvey (pictured) said the change felt like the next logical step in working collaboratively with brokers.
“This is great news for brokers, who will have more time to discuss their clients’ options with them and help them to find the best mortgage for their needs,” he said.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
“Plus, we don’t have a restricted mortgage range for existing borrowers – including those introduced by a broker – meaning they have access to the same products as any new customer.
“And we will of course continue to direct broker-introduced borrowers back to their mortgage adviser – it’s all part of our commitment to the intermediary sector,” he added.