Coventry Building Society
Building SocietyCoventry Building Society is the UK's second-largest building society, renowned for consistently offering some of the most competitive mortgage rates in the market. Its mutual structure allows it to prioritise member value, resulting in low-cost mortgage products with minimal fees.
About Coventry Building Society
Coventry Building Society was founded in 1884 in Coventry and has grown to become the UK's second-largest building society. The society has remained focused on its core mission of helping people save for and buy their homes. As a mutual with no shareholders, Coventry prioritises member value and has built a reputation for consistently competitive mortgage rates.
Coventry is renowned for offering some of the lowest mortgage rates in the UK market. The society provides residential and buy-to-let products with minimal fees and competitive pricing. Coventry serves customers through its branch network, online, and via mortgage brokers across the UK.
The society has a strong balance sheet and has grown organically and through selective acquisitions. Coventry is regulated by the FCA and PRA and is a member of the Building Societies Association. The society maintains its headquarters in Coventry and serves members nationwide.
Lending Focus
Coventry Building Society offers mortgage products across 2 categories including Residential, Buy-to-Let.
Key Features
- Consistently among the lowest mortgage rates in the UK market
- No arrangement fees on many fixed-rate and tracker products
- Buy-to-let mortgages for individual and portfolio landlords
- Strong intermediary-only product range alongside direct offerings
- Overpayment up to 10% per year with no early repayment charge
Pros & Cons
Pros
- Consistently offers some of the lowest mortgage rates in the UK
- No arrangement fees on many products — excellent value overall
- Strong intermediary-only range with broker-exclusive deals
- Mutual status means member-focused rather than profit-driven
Cons
- –No shared ownership, Help to Buy, or self-build products
- –Limited branch network — primarily Midlands-based
- –Some of the best rates are intermediary-only and not available direct
Fees & Charges
- Arrangement Fee
- No fee on many products; up to £999 on selected deals
- Valuation Fee
- Free on most products
- Early Repayment Charge
- 1–5% during the initial deal period
- Overpayment Allowance
- Up to 10% per year without charge
Mortgage Rates
Rate data coming soon. View rates on Coventry Building Society
| Product | Initial Rate | Type | Initial Term | Revert Rate |
|---|---|---|---|---|
| 2 Year Fixed | TBC | Fixed | 24 months | TBC |
| 5 Year Fixed | TBC | Fixed | 60 months | TBC |
| Tracker | TBC | Variable | 24 months | TBC |
Application Process
- Processing Time
- 2–4 weeks from application to offer
- Online DIP
- Yes — available online
- Offer Valid For
- 6 months
Lending Criteria
- Maximum LTV
- 95%
- Max Loan Amount
- £2m
- Min Loan Amount
- £25k
- Rate Types
- fixed, tracker, discount
Frequently Asked Questions
Why are Coventry Building Society rates so competitive?
As a mutual organisation, Coventry Building Society does not need to pay dividends to shareholders. This allows them to pass savings on to members through lower mortgage rates and fewer fees.
Does Coventry Building Society charge arrangement fees?
Many Coventry Building Society mortgage products come with no arrangement fee, making them some of the most cost-effective deals in the market. Some products do carry a fee in exchange for lower rates.
Can I get a Coventry Building Society mortgage through a broker?
Yes, Coventry Building Society offers products both directly and through mortgage brokers. Some of their most competitive rates are exclusive to the intermediary channel.
Does Coventry Building Society offer buy-to-let mortgages?
Yes, Coventry Building Society offers buy-to-let mortgages for individual landlords and portfolio investors, with competitive rates and flexible criteria.
How to Apply
Direct & broker access. Apply directly or via a broker for whole-of-market access. Find a broker
Similar Lenders
View all lenders| Name | Niches | Type | Max LTV |
|---|---|---|---|
| West Bromwich Building Society | Residential, Buy-to-Let, Expat | Building Soc. | 90% |
| Lloyds Bank | Residential, Buy-to-Let, Shared Ownership+1 | Bank | 95% |
| Aldermore | Residential, Buy-to-Let, Commercial+1 | Specialist | 85% |
| Buckinghamshire Building Society | Residential, Buy-to-Let, Limited Company | Building Soc. | 90% |
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