Godiva Mortgages, the intermediary lender of Coventry Building Society, is to withdraw its MOREgage product range from 22 February.
The product range, which offers a combined mortgage and unsecured loan, is to be withdrawn due to falling demand, according to Godiva. Colin Franklin, managing director of Godiva Mortgages, says: “These products have been a useful addition to our portfolio and have performed well. During 2007 we saw a steady reduction in the demand and certainly the number of applications we have accepted has reduced. “MOREgage applications have reduced to a negligible level and it is no longer cost effective to maintain the additional underwriting processes for these higher loan to value loans.“ The ...
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