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Up to £250,000 90% LTV

Up to £400,000 85% LTV

Up to £750,000 80% LTV

Up to £1,000,000 75% LTV

Mortgage is Portable

The product(s) selected are fully portable. Please refer to our 'Moving Home Without Changing Your Mortgage' brochure for further information.

- Mortgage is for First time buyers only

Coventry Building Society operates a restricted panel of intermediaries.

The Privilege Rate is available to those existing borrowers holding a residential mortgage that have remained on the same scheme or SVR for 5 years or more please refer to Coventry Building Society.

A maximum term of 40 years is only available on mortgages backed by a pension, PEP or ISA.

A maximum term of 35 years is available for all other acceptable repayment methods.

Customers will be asked how they intend to pay off the loan if the term will take them past the age of 65.

Payment Holidays Allowed. The Coventry Building Society may allow you to take up to 3 months payment break during any financial year of the Society (i.e the 12 months ending on 31st December in any year), providing the first 6 monthly payments on the mortgage have been made and no arrears are present on the account. Debit interest will continue to be added to the mortgage on the first day of the month and will form part of the mortgage balance upon which monthly interest will be calculated. To request a payment break, you must give the Coventry Building Society at least five days notice. It is entirely up to the Coventry Building Society whether to grant your request or not.

One mortgage valuation fee is waived up to a maximum amount of £650 if the Lender instructs the valuer. In some instances different valuation assessments may be under taken.

For this mortgage, you will be allowed to repay 5% of the annual balance per year. Any overpayment using the direct debit overpayment facility will be applied to the mortgage immediately and interest recalculated. You will be advised of your revised monthly repayment if applicable.

Capital Rest Period : Daily

Repayment Yes

Endowment Yes

PEP Yes

Pension Yes

Interest only (no RV) 75% LTV

With Profits Yes

Unit Linked Yes

ISA Yes

Split Repayment Yes

Arrangement : varies

Booking : varies

varies

None

Basic:

Free

Homebuyers:

upto £60,000 - £135

upto £75,000 - £170

upto £125,000 - £200

upto £175,000 - £250

upto £200,000 - £215

upto £300,000 - £265

upto £400,000 - £315

upto £500,000 - £355

upto £600,000 - £355

upto £700,000 - £435

upto £800,000 - £445

upto £900,000 - £495

upto £1,000,000 - £550

upto £1,200,000 - £750

upto £1,400,000 - £950

upto £1,600,000 - £1150

upto £1,800,000 - £1350

upto £2,000,000 - £1550

upto £2,200,000 - £1750

upto £2,400,000 - £1950

upto £2,600,000 - £2150

upto £2,800,000 - £2350

upto £3,000,000 - £2550

Free valuations when conducted by the Coventry Building Society's panel of valuers are acceptable.

For properties valued over £1 million please refer to Coventry Building Society for the valuation fee.

Higher Lending Charges are calculated on the difference between 75% of the value of your home and the amount you wish to borrow.

Lenders Conveyancing Fee - £177.43 Payable on completion. For searches and disbursements involved in completing your mortgage. This is an estimate and will only be part of the legal costs involved. Fee payable to your conveyancer.

Telegraphic Transfer - £35.00 Payable on completion.

Redemption Fee - £125.00 Payable on completion.

Freehold Flat No

Purpose Built Flat Yes

Converted Flat Yes

Flat Over Shop Refer

Maisonette Yes

Studio Flat Refer

Flying Freehold Yes

Thatched Yes

Timber Framed Yes

Concrete No

Agricultural Tie No

Flat Over 4 Storeys Refer

Listed Building Yes

Not Accepted

Ex-local authority flats and maisonettes are restricted to 70% LTV.

Will not lend on Freehold Maisonettes.

Flats over certain types of commercial properties are restricted to 75% LTV.

Flats with more than 5 storeys are not considered, if they are ex local authority.

All property, flying freehold not to exceed 25% of the total property.

Timber properties are not acceptable but Coventry Building Society will consider modern timber framed properties provided they have an outer skin of brickwork.

Steel Frame and <10 years no NHBC or equivalent properties are not accepted.

Houses with 2 Kitchens and houses with no bathroom are not accepted.

The Coventry Building Society will not lend in Isle of Man, Channel Island, Scottish Isles.

Ex local authority built flats and maisonettes restricted to maximum 70% LTV.

Accepted Locations : England, Scotland, Wales, N Ireland

Bank Statements 2 months

At Least 3 Months Pay Slips Yes

P60 Yes

Proof Of Residency Yes

Life Policy To Be Assigned No

Previous Lender References Refer

Buildings Conditional

Min Loan

Max Loan £250,000

Max Portfolio of BTL Loans none

Min Age 18 years

Max Age 85 years

Min Term 5 years

Max Term 35 years

Foreign Citizens Refer

Ex-Patriates Not Accepted

Based on Income > 1

3.6 + 0 or 3.6 joint

Based on Income > 25000

4 + 0 or 4 joint

Based on Income > 40000

4.3 + 0 or 4.3 joint

Min months in current position 1

Min months in continuous service 12

Min no. of years accounts 3

Average years taken to calculate income 2

Will consider declining profit Refer

Income multiples are dependant on clients income.

For joint applications: full joint admissible income can be used, however the admissible income of the main income earner will be used to determine the multiple. For example, where the salaries are £30k and £15k, the calculation will be based on £45k x 4.0

Income Multiples;

Based on income up to £20,000

3.6 sole or 3.6 joint.

Based on income up to £39,999

4.0 sole or 4.0 joint.

Based on income £40,000 and over

4.3 sole or 4.3 joint.

Hire Purchase Taken into account

Personal Loans Taken into account

Overdraft NOT Taken into account

Credit/Store Cards Taken into account

Child Maintenance Taken into account

Child Education NOT Taken into account

Extra Income:-

Other Income - Guaranteed Add 100% to income before multiply

Other Income - Regular Add 50% to income before multiply

Other Income - Irregular Add 50% to income before multiply

Investment Income No

Mortgage Subsidy Add 100% to income before multiply

Large Town Allowance Add 100% to income before multiply

Maintenance Payments No

Non Contributory Pension Add 100% to income before multiply

Car Allowance No

Remortgage Not Available

CCJs/Defaults : Accept:

1) Max £250.00 in Defaults unsatisfied. There must be no Defaults in the last 6 months. This condition does not incur any rate loading.

2) Max £250.00 in CCJs unsatisfied. There must be no CCJss in the last 6 months. This condition does not incur any rate loading.

Arrears : Accept:

1) Max 1 missed payment in the last 12 months, which may be unpaid at the time of application. This condition does not incur any rate loading.

Bankruptcy/IVAs : Accept:

1) Bankruptcy must be discharged at least 3 years prior to application. This does not incur any rate loading.

2) IVA must be discharged at least 3 years prior to application, and maintained for at least 3 years. This does not incur any rate loading.

Repossessions : Not accepted.