Coventry (godiva)

Tamin_miah

Hello, I really have 2 buy to let with the Coventry Godiva going for a third one now. Cannot seem to get the right answer from Coventry so does anyone know can help please? My question, I have few debts but do they look at debt? because they tick the box I don't have it debt automatically? Also do they look at income? Or is it all based on the rental income?  Thanks

ACG

They have no minimum income requirements but that is not the same as no income needed. Presumably you will have the income on your self assessment from the rental properties so that should satisfy the requirement. 

If the rental is enough based on their rental calculation then your income should not matter too much. 

I am not sure I understand the debt question. They will probably ask about your debt, but it is not necessarily a problem. 

Tamin_miah

@ACG thanks for your reply. Regards to debt I have loans and credit cards. Coventry did not take any of those details when I asked them do you need to know about my debt, they go no our system automatically ticks no, it's all confusing is the first time I'm going directly with them instead of a broker. 

ACG

Ive only used them once for a BTL (we dont do many BTLs) so I am not the best person to ask, but according to their application form they do ask about them:
https://www.coventrybuildingsociety.co.uk/intermediaries/PDFs/03020.pdf (page 14). I suppose you just have to go through the process, if they ask for them down the line then you can provide them.