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FOR INTERMEDIARY AND PROFESSIONAL ADVISORS ONLY. NOT FOR CONSUMER USE.

Coventry intermediaries logo0800 121 7788 Monday to Friday 9am - 6pm. Closed on bank holidays.

Further advance

Why choose to further advance?

A further advance is a great way for your client to borrow more against their current mortgage. They can also product transfer at the same time and if there are fees associated they will only pay once. We also revalue the property at no extra cost. Additionally, further borrowing may be taken on the same products and rates as the relevant product range available to new customers.

Our products

> Standard residential products
> Buy to let products
> Portfolio landlord products

Please note: existing borrower cases cannot be submitted online.

How to apply


1 Check eligibility

Please ensure that your client's additional borrowing application meets our affordability requirements (residential only) and lending policy before submitting their application, as fees (if applicable) are non-refundable.

2 Get permission from your client to talk to us

You can confirm that you have customer permission over the phone or by completing the customer authority form.

3 Request an illustration

Complete the sections listed on the second page of the relevant additional borrowing mortgage application form and send via secure email to intermediaries@thecoventry.co.uk.

4 We'll send you an illustration

When we have received your additional lending application form we will assess affordability and eligibility based on the information provided. We'll then produce an illustration and email this to you.

5 Complete application

When you have reviewed the illustration with your client, you will need to complete the remaining sections of the relevant additional borrowing application form and return the signed scanned version to us using our send secure service
intermediaries@thecoventry.co.uk.

Product exceptions

If your client is an existing Offset or Flexx for Term borrower they may be able to borrow more on their existing product, subject to our affordability requirements (for residential borrowing), lending policy and the product LTV.

Note:

  • Clients with an Offset facility who are looking to borrow more can do so on the same term and product, subject to LTV limits. If they would like an alternative arrangement they will need to complete a Product Transfer.
  • If your client is an existing Godiva Standard Residential customer, and wishes to borrow more, you'll find details of the further advance products available to them in the product guide.

If your client has four or more mortgaged buy-to-let properties and is therefore a portfolio landlord, any further borrowing may need to be on a product from the portfolio landlord product range.

  • Portfolio landlord clients on an existing Flexx for Term product that was applied for before 16th May 2019 can take further borrowing on their existing product or select a product from the portfolio landlord product range.
  • Clients on an existing Flexx for Term product that was applied for on or after 16th May 2019 can take further borrowing on their existing product. But if they have since become a portfolio landlord they can only take further borrowing on a product from the portfolio landlord product range.

For more information, please call us on 0800 121 7788 or refer to our Buy to let product selection guide (PDF 319KB)Opens in a new window.

Who can apply for a further advance?

Existing clients who have had a mortgage with us for at least six months and have made six consecutive payments within the last six months are eligible to borrow more with a further advance product, subject to the above product exceptions. If your client has taken a payment holiday or a recent further advance, a further six consecutive monthly payments must have been made before any further borrowing may be considered.


Don’t forget you can always give us a call, our support teams are here Monday - Friday 9am - 6pm

Please note:

All lending is subject to current product terms, lending policy and product availability and eligibility. Existing borrower cases cannot be submitted online. Please see our frequently asked questions for further information.
If your client is an existing Godiva Standard Residential customer, you’ll find details of the transfer products available to them in the product guide.