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Coventry Building Society mortgage review

We've combined expert analysis with customer feedback to help you decide whether to get a mortgage with Coventry Building Society.

In this article
Coronavirus (COVID-19) update Coventry Building Society mortgages customer ratings What kinds of mortgages does Coventry Building Society offer? Does Coventry Building Society offer the best mortgage deals? Interest rates on Coventry Building Society mortgages
How much could I borrow from Coventry Building Society? Can I make overpayments? How can I contact Coventry Building Society? Coventry mortgage eligibility What Coventry Building Society’s mortgage customers say

Coronavirus (COVID-19) update

Coventry is currently not lending more than 65% of a property's value.

Coventry Building Society mortgages customer ratings

Coventry BS Review
Which? Customer Score
Joint 2nd out of 25 mortgage lenders
Which?'s rating for customer satisfaction, based on feedback from real customers. The score is made up of a customer's overall satisfaction with the brand, and how likely they are to recommend that brand.
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Which? Recommended Provider Coventry Building Society has its headquarters in Coventry, but lends mortgages on properties throughout Great Britain. 

The table below shows how Coventry Building Society performed in our latest mortgage satisfaction survey, which is based on real customer feedback.

Customer rating for: Star rating
Customer service

4 out of 5

Application process -
Value for money

4 out of 5

Keeping you well informed

5 out of 5

Clarity of statements

5 out of 5

Transparency of charges

4 out of 5

Query and complaint handling

4 out of 5

Ability to overpay or underpay mortgage

4 out of 5

Online access

3 out of 5


Star ratings based on a June 2019 Which? survey of 3,574 members of the general public, in which 66 people told us they had their mortgage with Coventry Building Society. Where no rating is given the sample size was too small.

What kinds of mortgages does Coventry Building Society offer?

When we checked in September 2019, there were around 70 mortgages available from Coventry Building Society. Most were fixed-rate deals - meaning your interest rate will stay the same for a set period. For Coventry's mortgages, that period is usually either two, three, five or 10 years.

The rest of Coventry’s mortgage range consisted of lifetime variable-rate products called ‘Flexx for Term’. The interest rate on these mortgages is set independently of Coventry’s standard variable rate, as well as the Bank of England’s base rate.

With a ‘Flexx for Term’ mortgage, you can make unlimited overpayments without having to pay an early repayment charge. You may also be able to borrow more at the same interest rate, up to the loan-to-value limit of the mortgage.

Coventry also offers a range of offset mortgages, where you can link your savings account to your mortgage and only pay interest on the difference between your mortgage and savings balance.

Does Coventry Building Society offer the best mortgage deals?

Which? analysis found that Coventry Building Society offers more cheap mortgages than any other lender we reviewed. 

To work this out, our experts analysed thousands of mortgage deals over a four-week period in August 2019. They created more than 200 'top-10 cheapest deal' tables based on a number of different borrowing scenarios, and counted how often each lender appeared in one of them. 


Interest rates on Coventry Building Society mortgages

Since Coventry had the greatest number of cheap deals of the lenders we reviewed, it's no surprise that it also offers some of the lowest interest rates. 

The average interest rate for a two-year fixed-rate mortgage from Coventry Building Society was 1.73% when we checked in September 2019. That's more than one percentage point cheaper than the industry average of 2.77%.

Coventry also has a special interest rate for existing customers with an owner-occupier mortgage called the ‘privilege rate’. This is available to borrowers who have had the same mortgage and/or been paying the standard variable rate (SVR) for at least five years. Coventry sets the ‘privilege rate’ independently of (but not higher than) the SVR.

How much could I borrow from Coventry Building Society?

Below we’ve outlined how much you could borrow from Coventry, whether you’re buying a property or remortgaging (without borrowing more money).

The amount will depend on the percentage of the property’s value you want to borrow, as well as the mortgages that are available from Coventry when you apply.

Loan amount Loan-to-value
Up to £250,000 95%
£250,001 - £500,000 90%
£500,001 - £750,000 85%
£750,001 - £1m 80%
£1,000,001 - £1,250,000 75%
£1,250,001 - £2m 65%

For new-build flats, the most you can borrow from Coventry is 75% of the property value (and you can borrow up to 85% for a new-build house).

Can I make overpayments?

If you pay more than you need to, Coventry will treat the extra payment as either a contribution towards your capital balance (as is the case with most lenders), or use it to recalculate your interest rate at either the start of the year or the midway point.

Whether Coventry takes your payment as one option or the other will depend on:

  • the amount you make in extra payments, and
  • how much your normal monthly payments are.

If you make an extra payment that is taken as a capital repayment, your mortgage balance and the interest you pay is immediately reduced, and this will reduce the amount you pay each month.

You may be subject to an early repayment charge (ERC) if your mortgage agreement includes them. 

How can I contact Coventry Building Society?

You can contact Coventry on 0800 121 8899.

Its website is

Coventry mortgage eligibility

Leasehold properties

If you’re applying for a mortgage on a leasehold property, Coventry will only lend to you if there are at least 70 years left on the lease at the time of completion.


If the flat is above a shop, the most you can borrow is 75% of the property’s value. The type of business that’s below the flat will also be a deciding factor in whether Coventry will lend to you.

If the flat is in a block more than 10 storeys high, you won’t be able to apply for a mortgage from Coventry.


If you're in permanent employment, you'll need to have been continuously employed for the last 12 months. 

Contractors, including zero-hours contractors, can apply if they have been contracting continuously for the last 12 months, and have a minimum of six months remaining on their existing contract. If you have less than six months remaining, you'll need to prove you have been working in the same profession for at least two years. 

What Coventry Building Society’s mortgage customers say