The Mortgage Charter
We’re proud to have worked with Lenders and Regulators to provide more options and support to those struggling with their mortgage.
If you’re up to date with your payments, under the charter you can:
Extend your mortgage term to lower your monthly payments
You can increase the length of your mortgage to pay less each month. This will increase the overall cost of your mortgage.
Temporarily switch to interest only payments.
Paying off only the interest on your mortgage or reducing payments may offer short term support in reducing your payments. They will increase the overall cost of your mortgage.
If you think you may need either of these options, our specialist team is here to provide support and guidance. You can call us on 0800 121 8899 or use our online Mortgage Support Request Form and we’ll get back to you.
We’ve partnered with Koodoo, who’ve built a calculator to help you understand how these options might impact your mortgage.
As one of our mortgage members you can:
Ask us for support on your mortgage repayments without any impact on your credit file.
We’ve a range of support on offer and our highly trained specialists will work with you to understand your situation to help you find the right option for you. Find out more about the support on offer if you’re experiencing payment difficulties.
Secure a new mortgage rate up to 4 months before your current one ends.
If you’re approaching the end of a fixed rate deal with us, we'll be in contact 4 months before to let you know the options available to you. If you find a better rate, you can change again up to 1 week before your new rate is due to start. Find out more about switching your Fixed deal.
Switch to a new mortgage deal with us without an affordability check.
Up to 4 months before your fixed rate mortgage with us comes to an end, you can secure a new deal. As long as there’s no other change to the loan, property or people on the mortgage, there’s no need for affordability checks. Find out more about switching your Fixed deal.
Stay in your home for at least a year after your first missed payment, unless there are exceptional circumstances.
We treat everyone individually and will always use repossession as a last resort. If you find yourself behind on payments we encourage you to talk to us and we’ll contact you many times before repossession is considered.
How could reducing your payments affect you?
To help you, we’ve partnered with Koodoo, who’ve created a calculator. Their calculator could help you understand the impact changing to interest-only or increasing your term could have on your overall mortgage and monthly payments.
You’ll need your current mortgage balance, rate, term and repayment type, all of which can be found on the mortgage statement we sent you in January.
Please note: If you use the figures on your mortgage statement, your outstanding balance is as at 1 January and this means the information provided is a guide only. If you contact us to apply, we’ll then use your up-to-date balance which will include any payments you have made since 1 January and give you accurate information.
This calculator is provided by Koodoo and endorsed by Coventry Building Society for use only by its mortgage customers.
Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.
Call us on 0800 121 8899
- Mon-Fri 8am-7pm
- Saturday 9am-2pm
- Sunday & Bank holidays Closed
Yesterday, people waited on average
17 seconds for savings enquiries
17 seconds for mortgage enquiries
Want help?
Our help section is bursting with useful information. If you'd rather chat, just give us a call.
Call us on
0800 121 8899
Saturday
Sunday
9am - 2pm
Closed
Closed
Yesterday, people waited on average
1 minute 13 seconds for savings enquiries
8 seconds for mortgage enquiries
