Coventry Building Society has completed its merger with Stroud & Swindon Building Society, in a deal that will migrate 200,000 customers and cut their mortgage interest rates.
Coventry Building Society has announced ITL Mortgages, the intermediary subsidiary of Stroud & Swindon Building Society, will close to new business when the two societies merge on 1 September.
The FSA has confirmed the merger of Stroud & Swindon Building Society with Coventry Building Society.
Stroud & Swindon Building Society chief executive David Hill is stepping down at the end of August after nine years at the mutual to pursue other interests.
Stroud & Swindon has launched an online mortgage finder facility which it says is designed to be customer-friendly as well as make the best of online buying experiences.
In less than a decade, the average homeowner nationwide will become liable for IHT, according to price research from Stroud & Swindon Building Society.