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UK's 7th largest lender

Coventry lent over £9bn in 2018. That's 3% of all mortgage lending.

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17-day submission time

That's a day longer than the average of 25 lenders we measured.

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Borrow 4.5x your income

You could borrow up to this amount if you meet Coventry's requirements.

About Coventry Building Society

Founded in 1884, Coventry Building Society is the UK’s second largest building society and was responsible for 3.4% of all mortgage lending in 2018, or £9.2 billion.(1)

It was awarded Best Lender Website in the 2017 What Mortgage Awards and Best Offset Mortgage Lender in the 2016 What Mortgage Awards.

Coventry mortgage deals are available to a wide range of people, but they generally won’t lend to you if you have particularly bad credit.

We’ve reviewed some of the UK’s top mortgage lenders and measured their service, application speed, and affordability.

In this review we'll cover:

Compare Coventry mortgages

Compare Coventry mortgages and see how your monthly payments would change depending on the initial period, total mortgage length, your deposit and how much you want to borrow.

After you choose a Coventry mortgage deal, one of our expert mortgage brokers can check whether you're eligible and help arrange the mortgage for you.

Your home may be repossessed if you do not keep up repayments on your mortgage.

New mortgage
Remortgage
Your loan to value is 60.00%

Is Coventry a good mortgage lender?

There are many ways to measure how good a lender is. We've chosen to focus on publicly available complaints data to estimate their quality of service.

We looked at Coventry’s customer complaints record between July and December 2018. During this period the Financial Conduct Authority (the financial regulator) received 444 officially upheld complaints from Coventry mortgage customers.(2) That’s around 0.1% of customers and is lower than the 0.4% average across major lenders.*

*The number of customers served by this lender isn’t publicly available so we’ve estimated this figure based on market share and average house price in the UK.

How long does a Coventry mortgage application take?

During the last six months, the average speed that Coventry processed a Trussle customer’s successful mortgage application was 17 days.* That’s a day longer than the 16-day average across all the lenders we’ve submitted applications to.

Bear in mind that the speed of application will vary depending on your own personal circumstances and the lender’s present day-to-day performance. In some cases, applications can be approved by the lender within 24 hours, while some can take weeks or even months. This can also be impacted by the quality of application submitted, which is why you may want to consider using a mortgage broker. The average quoted speed therefore may not reflect your own experience.

These details were last updated on 8th August 2019.

How much could I afford to borrow from Coventry?

Coventry Building Society could lend up to a maximum of 4.5 times income before tax, depending on your circumstances.

These details were last updated on 8th August 2019.

Coventry mortgage calculator

Calculate how much you may be able to borrow from Coventry Building Society with a mortgage. Calculate your monthly mortgage repayments for a Coventry mortgage.

How much can I borrow?
Mortgage repayment calculator

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

You could borrow up to:

£000,000
Loan to value (LTV):00%
Including your deposit, you could afford a house price up to£000,000
Other fees you may have to pay:
Broker fee(free with Trussle)
Additional fees(learn more)

Next steps

If you're ready to get a mortgage, the next step is to answer a few more questions. Then a Trussle adviser will find the best mortgage deal for you.

Your home could be repossessed if you don't keep up repayments on your mortgage.

Talk to a mortgage broker or lender to get a more accurate remortgage savings amount.

Frequently asked questions (FAQs)

Updated on 29th May 2019.

If you’re using your mortgage to buy a property, your offer will last for six months. If you’re remortgaging, you’ll have four months.

For either option, its expiry will be determined from the date of your application. If you don’t send outstanding supporting information in time, your validity period will be reduced.

No, all you’ll need to have is adequate buildings insurance, which is a common requirement among mortgage lenders. Buildings insurance covers the cost of making repairs to your property if the building itself is damaged. If you’re buying a flat, you might find it is included in your maintenance fee.

Your funds will be released on your completion date.

When you sign the relevant legal documents and pay your deposit to buy a home, you’ll also agree on a day to pick up the keys so you can move in. This is known as your completion date, and is also when Coventry releases your mortgage funds.

Your solicitor should inform Coventry of your completion date ahead of time.

Coventry will be in touch shortly after you complete your property purchase. They’ll send a letter detailing when you’ll need to make your first payment, and how much you’ll need to transfer across.

You might notice that your first payment is a bit larger than subsequent instalments. This happens when your first payment needs to cover the interest over a period that’s slightly longer than a single month.

Yes, but you might have to pay an early repayment charge. To find out whether you’ll incur a fee, Coventry recommends you contact their customer service team.

Deciding whether you’d like to be able to pay off your mortgage early or reduce your monthly payments by paying a lump sum is a key part of choosing the right mortgage for your circumstances. So it’s a good idea to do some research and decide whether you’d prefer a lower rate or more flexible terms.

Coventry Building Society will write to you before this happens, suggesting a mortgage review. They might offer you a new fixed rate deal.

If you don’t switch, you’ll lapse onto the lender’s Standard Variable Rate (SVR). This would mean that your rate is no longer fixed. Instead, it would move up and down according to a few factors, including how the mortgage market is performing. You’ll often find an SVR mortgage more expensive than a fixed rate one, so it’s always worth considering other options.

Existing Coventry mortgage customers who want to buy a new property might be able to ‘port’ their current mortgage and resume it on their new property.

The majority of Coventry’s mortgages are portable - check the terms and conditions of your mortgage to confirm whether this is the case.

Yes, so you’ll be able to view key details about your mortgage online.

To use the platform, first you’ll need to register and create an account. To do so, you’ll need your account details, address, and contact information. You can also begin your mortgage application online in the first place.

Yes. Coventry’s offset mortgage links your offset savings account to your mortgage and you’ll only be charged interest on the difference between your mortgage and savings balance.

Godiva Mortgages Limited are the buy-to-let branch of Coventry. If you’re looking for a buy-to-let mortgage, they offer a wide range of options. A standard valuation of up to £700 is included, as is the standard legal work for remortgages.

Yes, on both mortgages and on unsecured personal loans. If you’re unsure about whether you might have had PPI included on a loan from Coventry, you ought to check your mortgage documents.

PPI is a form of insurance that covers your payments on a loan if you’re unable to work due to an accident, unemployment, or sickness.

There are a number of online review sites you can visit to read about customers’ experiences with Coventry mortgages, including Trustpilot.

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Get a mortgage with Trussle today

  • Fee free online mortgage broker

  • Rated 5 stars "Excellent" on Trustpilot

  • 12,000 deals from 90 lenders

  • Apply online any time from any device

  • Personalised recommendations, usually in under 5 hours

  • Free mortgage monitoring - we'll tell you when it's time to remortgage

  • No waiting for appointments

  • No paperwork

Your home could be repossessed if you don't keep up repayments on your mortgage.

You may have to pay an early repayment charge to your existing lender if you remortgage.

What people are saying about Trussle...

Sources

Deal and rate data was sourced by Trussle. All other information was sourced from Coventry's own website, unless referenced below.

  1. UK Finance

  2. Financial Conduct Authority