Coventry Building Society is raising rates on all BTL and portfolio BTL green further advances.
Current products will close at 8pm on Monday 19th June and new rates will be launched at 8am on Tuesday 20th June.
It comes after the building society increased rates on all other BTL products at 8am on Friday 16th June.
Coventry is committed to giving two days’ notice for product closures.
Justin Moy, managing director at EHF Mortgages, commented: “These are the products that didn't change during the week, so this is an inevitable catch-up from the lender.
“There are more significant issues currently than green further advances within the mortgage market, [but] Coventry give us 48 hours' notice, which is always to be applauded.”
Rob Gill, managing director at Altura Mortgage Finance, added: “Coventry deserves a huge amount of credit for consistently honouring their pledge to give two days' notice ahead of any rate changes.
“From the early panic of the pandemic through to the outright chaos of the mini-Budget and the turbulence we're seeing at the moment, this pledge is a massive benefit to borrowers, brokers and no doubt its own staff.”
