Coventry Building Society reduce maximum interest only

Nationwide Mortgages

Coventry BS alter interest only rules

Coventry Building Society has today announced that it is reducing it’s maximum loan to value limit on interest only mortgage applications to 50%. This follows the lead set by Nationwide Building Society earlier this week and Abbey Santander and Halifax earlier this quarter.

This puts further pressure on the availability of interest only mortgage options from 50% to 75% loan to value leaving just a handful of Lenders with their interest only policies intact.

We would urge anyone who needs an interest only mortgage above 50% loan to value to take action immediately.

If you require an interest only mortgage – contact us now.

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