"The ever-changing coronavirus situation and its impact on the market has led to the decision, to enable the Society to maintain support to brokers and customers"
Last week, the Coventry said borrowers will see no changes for applications up to 85% LTV, as its valuation policy will allow it to lend up to 85% LTV on residential applications.
However the Society has now temporarily withdrawn all residential, buy-to-let and further advance mortgage products above 65% LTV. Its full product transfers product range remains available.
A number of lenders have halted residential lending or lowered their maximum LTV to 60% due to surveyors putting a hold on physical property inspections during the Covid-19 pandemic.
Last week, Barclays and Lloyds Banking Group's intermediary brands – Halifax Intermediaries, Scottish Widows Bank and BM Solutions - withdrew residential purchase products at above 60% LTV.
In a statement, Coventry Building Society said: "The ever-changing coronavirus situation and its impact on the market has led to the decision, to enable the Society to maintain support to brokers and customers whilst also following official guidelines to ensure the safety and wellbeing of its employees.
"The changes are temporary, but will allow the Society to continue to support the unprecedented number of requests from customers who require payment holidays, and process mortgage offer extensions for those in need."
