Coventry

Coventry Building Society, which trades as The Coventry, is a UK building society with around 2.6 million savings accounts and around 352,000 mortgage accounts¹. It offers savings accounts, cash ISAs, children's savings and mortgages, and it is a member-owned mutual: you become a member automatically when you open your first savings account or mortgage with it². What it does not offer is just as important to know: Coventry does not run current accounts and does not offer everyday payment accounts with a debit card³.

Coventry Building Society is a UK building society that trades as The Coventry, and its former name was Stroud & Swindon, so savers with very long-held accounts may remember that brand⁵. It appears on the Bank of England's list of building societies incorporated in the UK⁶. Following its combination with the Co-operative Bank, the Coventry group now includes the Co-operative Bank, Platform and Britannia brands⁷.

What Coventry offers: savings and mortgages, not current accounts

Coventry is a savings and mortgage business, and it is explicit that it does not offer current accounts³. It also does not offer everyday payment accounts with a debit card facility⁴. That shapes what a household can use it for: it is a place to hold savings, a cash ISA or a mortgage, not a place for the everyday banking of bills, direct debits and card payments. Our guide to current accounts explains those accounts and who offers them.

It does take part in the Current Account Switch Service, alongside more than 99% of UK banks and building societies, but that participation is about moving an everyday account held elsewhere, not about opening a Coventry one¹¹. Coventry also does not issue cheque books, though it does handle cheques paid into savings accounts in some circumstances¹².

As a building society, it is owned by its members rather than shareholders. Membership is automatic on opening your first savings account or mortgage, and it carries rights such as voting on decisions about how the Society is run and asking questions at the Annual General Meeting². To vote at an AGM you must continue to owe at least £100 on a mortgage or hold savings with Coventry up to and including the date of the meeting². Coventry also runs a member prize draw it calls "All together, even better", with eligibility criteria applying³.

Coventry savings accounts, cash ISAs and children's savings

Coventry's savings range covers adult savings accounts and cash ISAs. It specialises in cash ISAs: while other providers offer stocks and shares ISAs, Lifetime ISAs and innovative finance ISAs, Coventry's ISA business is cash only¹³. The Financial Ombudsman Service notes there are four types of ISA available overall, so a saver wanting anything other than cash would need a different provider¹⁴. Our ISAs guide explains the differences.

Two ISA rules matter in practice. You can open multiple ISAs in the same tax year, but you can only pay some or all of your current ISA allowance into one cash ISA with Coventry, though previous years' deposits can be split across multiple ISAs¹³. And cash ISAs, along with current accounts, savings accounts and savings bonds, are covered by the Financial Services Compensation Scheme¹⁰.

For children, Coventry offers a Junior Cash ISA and a Young Saver account¹⁵. The Junior Cash ISA allows children under 18 to save up to £9,000 each year, tax free, and anyone can pay into a child's junior cash ISA¹⁵. A child can only ever hold one of each type of ISA, and if they open an adult ISA as well as a junior ISA once they turn 18, they can only pay into one of them in each tax year¹⁵. One condition is unusual and worth knowing before you open one: if you open a Coventry Junior Cash ISA, you must arrange to transfer savings, in full, from another junior ISA or Child Trust Fund that the child may hold¹⁵. The child has access to the Junior Cash ISA when they reach 18¹⁵.

Coventry does not publish its savings rates on this page, and rates change; its own website lists today's figures for each account. Our savings guide explains the types of savings account generally, how interest is paid and taxed, and how protection works.

Coventry mortgages: types, terms and who can apply

Coventry offers residential mortgages on a repayment or interest-only basis, subject to its lending criteria and your current situation¹⁶. Its first-time buyer guidance describes the same two types: a repayment mortgage, where you pay off capital and interest, and an interest-only mortgage⁸. Mortgage statements can reflect three arrangements: a capital repayment mortgage, an interest-only mortgage, or a part interest-only and part capital repayment mortgage¹⁷.

The headline terms for residential lending are as follows. You usually need a deposit of at least 5% of the value of the property in savings, and the maximum loan period is 40 years⁸. Coventry offers fixed rate, base rate tracker and variable rate deals, with fixed rates typically running two, three or five years⁸. An Agreement in Principle is valid for 28 days, and it is a good idea to have one ready when you find a property and want to make an offer⁸. It is a condition of the mortgage to have adequate buildings insurance in place⁸. Freehold flats are excluded from its residential lending¹⁶.

Advice costs nothing: Coventry does not charge for its mortgage advice, but it only offers its own mortgages, so a broker or comparison of the whole market is the way to see other lenders' deals⁸. Our mortgages guide and home buying guide explain the process end to end.

Evidence requirements depend on how you earn. Directors with more than a 20% share need an Accountant's Certificate covering the most recent two years' accounting period; sole traders and partnerships need the latest two years' HMRC tax year calculations and Tax Year Overview⁸. Contractors need contracts showing 12 months of continuous contracting in the same profession, an employer's reference and at least six months remaining on the contract, or two years of continuous employment evidence if less, plus the latest P60 and latest month's payslips⁸.

Beyond standard residential lending, Coventry lends in several other situations:

• Moving home: most of its mortgages are portable, meaning you can transfer your existing mortgage to your new home, and porting involves the same process as applying for a new mortgage¹⁹.
• Buy to Let: landlord mortgages are available, and Buy to Let customers must choose their product before calling¹⁸. A range of dedicated products for limited company landlords is provided by Godiva Mortgages, a Coventry subsidiary²⁰.
• New build: Coventry defines a new build as a property built within the last two years or one about to be lived in for the first time. New build mortgage offers last nine months, with a three-month extension on request; beyond 12 months you would need to re-apply and select a new product. You normally have 28 days from reservation to exchange contracts, and home insurance is still required because a new build warranty only covers the developer's work²¹.
• Homes for Ukraine: Coventry is committed to supporting the scheme alongside other UK lenders, working with UK Finance and the Building Societies Association. Mortgage customers planning to sponsor someone should let the Society know, and home insurance must cover you as a sponsor as a requirement of the mortgage²².

Mortgage fees and charges: how they work

Coventry publishes a Tariff of Mortgage Charges, which is sent with the mortgage offer pack alongside its General Mortgage Conditions and any Special Conditions¹⁸. Rather than quote product-specific figures here, which change, it is worth understanding how each charge behaves.

The product fee is charged on some, but not all, mortgage products, and the amount varies: your mortgage illustration sets out the exact figure for the deal you are considering²³. If a product fee is added to the loan, interest is applied to the fee amount at the same rate as your mortgage loan, so a fee added to the balance costs more over time than one paid upfront²⁵. The monthly payment shown for a product reflects only the initial deal period and does not take account of any fees or charges if you make changes to your mortgage²⁴.

The mortgage exit fee (Coventry calls it a fee payable on redemption) may also vary, and again your mortgage illustration gives the figure²³. The amount is fixed for the term of your mortgage, except where you ask Coventry to arrange additional borrowing or switch your product, in which case a new fee may apply²⁶. Two conditions soften it: the fee is waived if there is less than one year left to run on your entire mortgage at the time of redemption, and the refund window is 12 months if your mortgage includes a former Stroud & Swindon Building Society scheme²⁶.

A few other charges and cost points:

• Valuation: Coventry covers the cost of one mortgage valuation²³.
• Cheque payments: if you redeem or partly repay by cheque, Coventry charges an additional seven days' interest on the payment to cover clearing time. This charge does not apply if you are paying with cleared funds or from a Coventry savings account²⁶.
• Early repayment charges: these may apply in the circumstances described later in this page, and your mortgage offer sets out the details²⁶.

For repaying all or part of your mortgage, Coventry asks you to contact its Customer Service Centre on 0800 121 6263 or call into a branch so it can provide a personalised illustration²⁶.

Switching deals or borrowing more as an existing Coventry mortgage member

If your Coventry deal is ending in the next four months, or you are on a variable rate, you can arrange to switch to a new deal²⁷. As an existing member you have access to rates that are as good as, or better than, those offered to new customers²⁷. You can sign up for a new mortgage product four months before your current deal ends, and Coventry gives some flexibility around that²⁵. You can also get a new quote as many times as you wish before your current deal ends²⁸.

A product transfer can be done online without being registered for Online Services: you just need your 8-digit mortgage account number and property address²⁸. Changes such as reducing the balance, changing the term, borrowing more money or changing the repayment method are possible, but via advisers rather than online²⁵. Existing members can also apply for any of Coventry's new business products at any time, subject to meeting its current lending criteria²⁹. If you have a Godiva Mortgage, you start your transfer through a dedicated website instead²⁸.

If you find a better rate after signing up, you can change again up to 1 week before your new rate is due to start⁹. As long as there is no other change to the loan, property or people on the mortgage, there is no need for affordability checks⁹.

For borrowing more, the eligibility rule is that you must have had your mortgage with Coventry for at least six months and have made six consecutive monthly payments²⁷. Where borrowing is split across different mortgages, each sub-account may have different terms and conditions¹⁹.

If you are remortgaging to Coventry from another lender, its remortgage products come with the option of its Remortgage Transfer Service, which takes care of the standard legal work involved in changing lenders, including Land Registry searches and preparing the mortgage deed³⁰. Cashback is only included on selected remortgage products, so the individual product details show what is included³⁰.

Overpaying your mortgage and early repayment charges

On a repayment mortgage, a capital repayment reduces the balance of your mortgage, which in turn reduces the interest charged. You can then choose to reduce your contractual payments from the following month onwards, or to reduce the term of the mortgage³¹.

How an overpayment is processed depends on the scheme. If your mortgage is on Coventry's daily interest scheme, the overpayment is credited to your mortgage account immediately, which means you are charged less interest overall. It is not treated as a capital repayment unless you ask and the terms allow it, and your monthly payments are not automatically recalculated³¹. If your mortgage account is in arrears, additional payments may be processed differently³¹.

An early repayment charge (ERC) may apply in defined circumstances. Coventry's tariff lists the triggers: you overpay more than your mortgage terms allow, or you switch mortgage product or lender during a special rate period, for example while on a fixed interest rate²³. You may also be charged an ERC if you repay your mortgage in full before the fixed rate period ends²³. The details and amounts are in your mortgage offer, and if an ERC does apply, Coventry provides its expiry date on the summary statement²⁶. Porting part of a mortgage can also trigger early repayment charges, so it is worth contacting Coventry to find out more before you commit¹⁹.

Falling behind on a Coventry mortgage

Coventry has signed up to the Mortgage Charter³², the government-backed set of commitments under which lenders agree to support borrowers who are struggling. The charter's provisions include being able to stay in your home for at least a year after your first missed payment, unless there are exceptional circumstances⁹. Coventry's own summary adds that you can ask it for support on your mortgage repayments without any impact on your credit file⁹.

The practical steps are to contact Coventry early, before payments are missed rather than after. Its mortgage help pages describe a dedicated team available to support³², and the mortgage line is on 0800 121 8899. Independent guidance from Which? sets out how to ask any lender for mortgage support and what to expect³³.

The warning that stands on every Coventry mortgage page is the standard one: your home may be repossessed if you do not keep up repayments on your mortgage²⁴. Charter protections delay but do not remove that risk, and repossession can still begin after the protected period, or earlier in exceptional circumstances. Free, impartial help is available: MoneyHelper and debt advice charities can talk through options before arrears build up.

How to bank with Coventry: branches, phone, app and online

Coventry can be dealt with at a branch, by post, via its Telephone Services, through its app, or using its Online Services³⁴. The app lets you view your savings accounts and transactions and make a payment to your Named Bank Account or another savings account you hold with Coventry³⁵. If you already have accounts with Coventry, you need to be set up for Online Services to register for the mobile app; new customers can download the app and open an account in it³⁵.

Registering for Online Services requires your account number, your email address, access to the phone number Coventry holds for you to receive an automated call, photo ID, and a mobile phone to upload that ID and take a selfie³⁶. The automated call comes from 02476 016 451³⁶. Coventry states that the verification is to protect you from identity fraud³⁶.

The main mortgage line is 0800 121 8899, open Monday to Friday 8am to 7pm and Saturday 9am to 2pm, closed Sundays and bank holidays¹³. Coventry publishes two different sets of average wait times, which its pages do not reconcile: 17 seconds for savings enquiries and 17 seconds for mortgage enquiries on one measure, and 2 minutes 3 seconds for savings enquiries and 5 minutes 38 seconds for mortgage enquiries on another¹¹. Texts from Coventry come from the sender ID Coventry BS, and it lists a number it texts from, 07441447221³⁷. Being wary of unexpected messages claiming to be from any bank is sensible; our scams and fraud guide explains how to check.

Open banking services are available, but to use them you need to be registered for Online Services and have an everyday payment account with Coventry, which, as above, it does not offer⁴.

Opening an account or applying for a mortgage

Savings accounts can be opened online through the application link next to many accounts listed on Coventry's website, by post to FREEPOST CBS CUSTOMER SERVICES, or at any branch, where an appointment is recommended³⁸. You will need your National Insurance number and details of a "named account", and to pay in you need your sort code and the last eight digits of your account number³⁸.

Coventry carries out an electronic ID check first, and may also need to see proof of your name and address³⁸. Where documents are required, an adult needs one official document proving who they are, for example a valid passport or driving licence, and one proving where they live, such as a utility bill dated within the last three months¹⁵. For a child's account, a birth or adoption certificate or valid passport is needed, plus one document proving where the child lives¹⁵.

For a mortgage, the application call can take 45 minutes to 1.5 hours, so it is worth setting aside enough time¹⁸. Coventry does not have advisors in all its branches¹⁸. You will be asked for income details and how long you want the mortgage for¹⁸. Buy to Let customers must choose their product before calling¹⁸. Coventry cannot provide investment advice, so its conversations are limited to its own products¹⁷.

Complaints and customer service at Coventry

Coventry publishes its complaints data every six months. Between 1 January 2026 and 30 June 2026 it opened 3,632 complaints in banking and credit cards and 707 in home finance, closing 3,610 and 706 respectively in the same period¹. Six complaints were opened in credit-related matters, of which 83% were upheld, and none in insurance and pure protection¹. Of banking and credit card complaints, 55% were upheld, and 62% were closed within three days¹. The most common cause of complaints in banking and credit cards was general admin and customer service¹. The figures cover Coventry Building Society together with its subsidiary mortgage lending businesses¹.

If Coventry cannot resolve a complaint to your satisfaction, the Financial Ombudsman Service can review it; our consumer protection guide explains how and when to escalate. Complaints about Coventry's own sales and service go to the ombudsman free of charge.

Two support arrangements are worth knowing about. For someone managing a relative's finances, Coventry accepts the Property and Financial Affairs lasting power of attorney only³⁴. It can accept the LPA digitally as long as it has been registered in England and Wales, though it reserves the right to request the original or a certified copy³⁴. Registration with Coventry needs the original or certified copy of the LPA document or your digital access code, a complete attorney registration form, and identification for you, the donor and your attorney or attorneys if they do not already have an account³⁴. The attorney's details are noted on the account, but the account and funds stay in the donor's name³⁹. An attorney will have access to all of the donor's accounts unless the power of attorney document or a Court of Protection order specifies restrictions³⁹. An LPA is applied for online at gov.uk or via a solicitor; Coventry cannot do it for you³⁹. Which? does not recommend opening a joint bank account with someone for whom you also hold lasting power of attorney or its equivalents in Scotland and Northern Ireland². In Northern Ireland, an Enduring Power of Attorney must be registered with the Office of Care and Protection once the donor lacks capacity³⁸.

How your money is protected at Coventry

Savings with Coventry are deposits, and deposits are protected by the Financial Services Compensation Scheme (FSCS). The Bank of England's explainer confirms this covers deposits in current accounts, savings accounts, cash ISAs and savings bonds¹⁰. The FSCS is the UK's statutory deposit protection scheme, so it applies regardless of the brand's mutual structure. The current limit is set out on the FSCS's own site, and our consumer protection guide explains how the per-person limit works across accounts.

Eligible deposits with Coventry Building Society are protected by the Financial Services Compensation Scheme, and the Society has been keeping savers' money safe since 1884⁵. It appears on the Bank of England's Prudential Regulation Authority list of building societies incorporated in the UK⁶. Its former name was Stroud & Swindon, so savers with very long-held accounts may remember that brand⁵.

Mortgages are not protected in the same way, because borrowing is not a deposit: what matters on a mortgage is the lender's Mortgage Charter commitments described above, and the Financial Ombudsman Service's ability to review complaints. Where a firm fails, FSCS protection for borrowers works differently from savings; the guide above explains the distinction.