The Coventry Building Society has recently announced that it will be withdrawing its residential and buy-to-let mortgage products from the market. This news comes as a shock to many, as the Coventry Building Society has been a major provider of mortgages in the UK for many years. The deadline for this withdrawal is set for Monday, and this has caused a great deal of confusion and concern among potential customers.
The Coventry Building Society has stated that the decision to withdraw its mortgage products was made in order to focus on other areas of the business. This means that customers who are currently in the process of applying for a mortgage from the Coventry Building Society will need to find an alternative lender before Monday.
For those who are already customers of the Coventry Building Society, there is no need to worry. The Society has stated that existing customers will not be affected by this decision and will continue to receive the same level of service as before.
For potential customers, however, this news is likely to cause some disruption. With the deadline set for Monday, customers will need to act quickly in order to find an alternative lender. It is important to note that some lenders may have different requirements and fees than the Coventry Building Society, so it is important to compare different lenders before making a decision.
Overall, the Coventry Building Society’s decision to withdraw its residential and buy-to-let mortgage products is likely to cause some disruption for potential customers. Those who are currently in the process of applying for a mortgage will need to find an alternative lender before Monday. For existing customers, however, there is no need to worry as they will continue to receive the same level of service as before.