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Our Mortgage Broker Guide to getting a mortgage in Coventry

The mortgage application process has 4 stages regardless of which mortgage lender you use:

    1
    Approval/Decision in Principal (AIP/DIP)
    2
    Mortgage in Principal (MIP)
    3
    Mortgage Valuation
    4
    Mortgage Offer

Read about the full mortgage process here - What is the mortgage process?

Mortgage Broker Coventry Tip 1
Top Mortgage Lenders

Mortgage Broker Tip 1

Mortgage BrokerTip 2

Checked one score? Check all 3!

Remember that in the UK there are 3 main credit reference agencies: Experian, Equifax and CallCredit. All 3 use different methods to produce a credit score and one or all may be consulted by a lender about your credit-worthiness.

It therefore makes more sense to check your score – and file – for all 3 so you have a complete picture of how your profile is viewed and can take any necessary steps to keep your credit score as high as you can.

Repayment Mortgage

You have to take out a repayment mortgage if you are a residential home buyer. You are granted a mortgage loan normally conditional on your saving a deposit of a minimum of 10% of the purchase price (in certain circumstances a lower percentage or even no deposit may be acceptable) and you commit to making regular monthly repayments over an agreed term, frequently 25 years, during which you pay back the loan.

For each payment you make, a portion of the money goes toward paying the interest on the loan and the rest goes towards paying down the capital. You accumulate more of the underlying capital over time so the interest element becomes less and the portion devoted to paying off the principal increases.

The biggest advantage of a repayment mortgage is that as long as you make all the payments, you can rest assured that at the end of the term you'll own the full equity of your property. This is not guaranteed to be the case with an interest-only mortgage; these mortgages are now only open to commercial customers.


Coventry is a city and borough in Central England in the West Midlands. Landmarks include Baginton Roman Fort, St Mary's Guildhall and its three cathedrals. St Mary's, the first cathedral, is a monastic building which is predominantly in ruins. The second and th‏ird are both called St Michael's; the first of these is a 14th century Gothic church which was reduced to a shell - and kept as a monument - by bombing in the Second World War, the other replaced the first. The city has two universities, Coventry University and the University of Warwick.

CV2 3JL

Property Price Stats for Coventry


Average property price in Coventry £167,400
% Change compared to last year 6%
Population of Coventry 337,428 (2014)


The property price data is sourced from the Land Registry's UK House Price Index and you can view up to date property prices by clicking - Land Registry House Price Index >> Land-Registry

Mortgage Broker Coventry - Recently Completed

  • Amis Court, 41 Common Way, Coventry, CV2 3JL
  • Flat 64, Wilson Green, Binley, Coventry, CV3 2TN
  • 19 Kentmere Close, Coventry, CV2 2GE
  • 20 Tremelling Way, Arley, Nuneaton, Coventry, CV7 8PS
  • 201 Daventry Rd, Coventry CV3 5HE

Local High Street Banks in Coventry

Mortgage Broker in and around Coventry

Our Coventry mortgage broker can help you with your mortgage app;lication locally or in any of the surrounding areas including Allesley, Kenilworth, Bubbenhall, Wolston, Balsall Common, Nether Heyford and Keresley End.

Which banks are local to you?


  • Lloyds - 30 High St, Coventry CV1 5RE
  • Santander - 29 High St, Coventry CV1 5RE
  • Coventry Building Society 19-20 High St, Coventry CV1 5QN

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Information about Mortgages


Watch our video to find out how to organise your mortgage and funding for your purchase.

Find a Home Mortgage

Whole Market Access

Our mortgage broker has access to the whole of the market as our home loan brokers aren't tied to any particular mortgage providers.

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FREE mortgage consultations for Coventry

Mortgage Brokers Coventry offering free first consultation (terms apply).

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Fast mortgage appointments

With no need for face to face meetings you'll be called on the same day by one of our mortgage specialist brokers to discuss your circumstances and can support complex applications for Help to Buy, Right to Buy and Shared Ownership mortgages

Independent Mortgage Broker

Impartial Mortgage Advice

You'll have access to the whole of the market as our mortgage brokers aren't tied to any one mortgage company.

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Coventry Mortgage Broker Insider Tips

Selling? Deal with any issues which are likely to appear on a survey before you market your property

A cautious buyer is more likely to book a RICS home buyers survey which is likely to show up any potential or actual defects your property may have.

If there are any, these may give a prospective buyer grounds either to bargain with you for a reduction in selling price or even to pull out of buying. At the very least you may end up wasting time as a result.

You should therefore call in a professional to remedy any structural issues you may have such as damp – the cause might often be damaged roofs or window frames or leaking pipes.

Click to book your building defect specialist 
Conveyancing Process
FREE Online Conveyancing Process for Buyers

Includes online checklists, videos, downloads and tips - plus it is completely free to use from start to finish and saves your progress along the way.