Coventry Building Society is setting up a specialist intermediary mortgage arm called Godiva Mortgages.
It opens on March 22 and will be run by Coventry’s head of sales Colin Franklin. It will offer products for credit-impaired, self-cert, buy to let and 100 per cent plus LTV.
All Coventry’s residential products will continue to be available to intermediaries through the building society brand.
It is following Britannia, West Brom and Yorkshire building societies which have launched intermediary-only arms.
Coventry chief executive David Stewart says: “Coventry has an exceptionally strong intermediary offering, and the majority of our mortgage business is generated via this channel. We know intermediaries are keen to transact a wider range of mortgages with us and we aim to win more intermediary business.
“The development of Godiva as a specialist lender demonstrates our commitment to meeting their needs.”
Franklin says: “Godiva will bring a fresh new offering to intermediaries. We are combining market-leading product ranges with the exceptional experience and quality of service that Coventry has a proven reputation for delivering to the intermediary market.”
Mortgage Intelligence managing director Sally Laker says: “It is a great move as it gives a clear message that Coventry is interested in intermediaries and the specialist market.”