Godiva Mortgages, part of the Coventry Building Society Group, offers existing buy-to-let borrowers the opportunity to switch to a new mortgage product before their current deal expires. Our free service makes the product transfer process simple, helping you secure your new rate up to four months before your existing mortgage product ends.
How the Godiva mortgage product transfer process works
The process is straightforward. Contact our team and we will obtain and retain the mortgage product transfer options available on your account.
Once you have selected your preferred Godiva mortgage product, we will prepare full mortgage illustrations for your approval before arranging your product transfer.
To ensure your new mortgage rate starts on the first day of the following month, we require your approval by the 20th of the preceding month.
Portfolio landlords
Godiva Mortgages has a separate range of product transfer rates for portfolio landlords.
A portfolio landlord is defined as a borrower who owns four or more mortgaged buy-to-let properties at the time of the product transfer.
Where a mortgage is held jointly, the total number of mortgaged buy-to-let properties owned by all borrowers is combined when determining portfolio landlord status.
Early repayment charges
Some Godiva mortgage products include early repayment charges during the initial incentive period. The level and duration of these charges depend on the mortgage product selected, so they should always be considered before proceeding with a new mortgage rate.
Overpayment allowance
Godiva Mortgages allows borrowers to repay up to 10% of their outstanding mortgage balance each year without incurring an early repayment charge.
If you are considering making regular or lump sum overpayments, you should confirm your available allowance before making additional payments.
Mortgage exit fee
Godiva Mortgages applies a mortgage exit fee when your mortgage account is redeemed. This fee should be considered if you are planning to repay your mortgage in full.
Why use our service?
- Our Godiva mortgage product transfer service is completely free of charge.
- We obtain the mortgage products available specifically for your account.
- We explain your available options in clear, straightforward language.
- We prepare the documentation and manage the application through to completion.
- We are available to answer any questions throughout the process.