Stamp duty surge sees Coventry for intermediaries break records for advances in Q2
Coventry for intermediaries saw record numbers of mortgage completions in the second quarter of 2021, fuelled by the rush to beat the first change to the stamp duty holiday at the end of June.
The lender also maintained service levels in Q2 2021 with call and webchat wait times ranging from between 43 and 109 seconds. Offer turnaround time stood at 14.1 days.
Keith Williams, intermediary operations manager at Coventry Building Society, said: “It’s been an extraordinary few months, with brokers working hard to get their clients’ cases over the line before the change to the stamp duty threshold. And our teams put in an extraordinary effort to help make that happen.
“Our intermediary development teams have worked with our colleagues in new lending to get the job done. We’ve been working seven days a week and collaborating to make the process run as smoothly as possible.
“While our call wait times were longer than they have been previously, I’m still incredibly proud of what the teams have achieved – we haven’t been left with a backlog of applications to process and we didn’t miss the deadline with a single case!
“We don’t expect to see the same levels of activity ahead of the final stamp duty deadline on 30 September. However, we’re well placed to deal with whatever happens and we’ll always be committed to providing the best service we can to brokers and their clients.”