15 November 2016
Following a joint initiative between the Council of Mortgage Lenders (CML) and Which?, a new "tariff of mortgage charges" is being launched that will introduce a standard format for how lenders communicate their fees, making it easier for customers to understand charges and compare deals.
As a customer focused lender, The Coventry support this and they will be making changes to the way they describe certain fees on our systems and literature over the next few months. Click here to see the tariff of mortgage charges with descriptions of the changes.
Please note that the Coventry are reducing the change of parties administration fee to £100 (from £150), and the unpaid/returned Direct Debit or cheque fee to £5 (from £8) with effect from 15 December 2016. All other fees remain unchanged.
If you would like further information regarding these changes, please contact them on 0800 121 7788.