Archive: Fri Dec 2016

The Coventry: A year of surprises!

2016 has certainly been full of surprises – Brexit and Trump to name just two – and yet the bookmakers failed to correctly predict either. Maybe we should now come to expect the unexpected, because uncertainty seems to be the new norm?

Despite all the changes, the market has remained resilient and the Council of Mortgage Lenders estimates that gross mortgage lending was £20.6 billion in October. House purchase transactions may be down, but brokers and their clients are seeing the benefits of remortgaging, with mortgage rates at an all-time low.

As we welcome in 2017 – we look set for another interesting year. There’s the introduction of a new BTL stress rate in January, and April marks the start of the phased tax changes for higher rate tax payers. Lenders will also be turning their attention to how they underwrite portfolio landlords to meet the September deadline.

But ahead of all this we look forward to Christmas. A time when the shops are pushed to their limits and customer service can be strained under the pressure. The mortgage market is not immune to this, but here at the Coventry we understand that our service has a direct impact on your reputation. We are continually looking at ways to improve and seek feedback from intermediaries through our monthly surveys. We’re always working hard to meet your expectations and over the last 12 months we have answered your calls in an average of 16 seconds and consistently processed documents within 48 hours.

And we’ve been given an early Christmas present! I’m delighted to say that at The Coventry we have been awarded 5 stars in the Financial Adviser Service Awards, something which we are incredibly proud of, because it is voted for by intermediaries – who have first-hand experience of what good service looks like.

I hope you all have a very happy and peaceful Christmas, and I wish you luck with your shopping – I hope you receive 5 star service!