Bringing The Co-operative Bank and Coventry Building Society together
From 1 January 2027 we’re proposing to transfer the Co-operative Bank’s business to Coventry Building Society. The Society is owned by members, not shareholders. Some things may change. How you bank with us will stay the same.
On this page:
What's happening?
On 1 January 2025, Coventry Building Society purchased The Co-operative Bank plc. Both our organisations have strong histories built on ethics and values. We’re now working on the next steps to bring our organisations together. To do this, we’re proposing to transfer the Bank’s business to the Society.
The proposed transfer is subject to High Court approval with a hearing to consider sanctioning the transfer scheme. This is expected to take place on 2 December 2026. If the Court approves the proposed transfer, we expect it to become effective on 1 January 2027.
We know that you have clients who currently have a mortgage or a mortgage application with The Co-operative Bank. We wanted to let you know these applications are still valid and you don’t need to do anything.
- If your clients’ mortgages complete before the 1 January 2027, they’ll complete as mortgages from The Co-operative Bank and transfer to the Society on 1 January 2027. Their application and supporting documents and deeds will still be valid. In all cases, we’ll update the Land Registry.
- If your clients’ mortgages complete after 1 January 2027, they’ll complete as mortgages from the Society. Their application and supporting documents will continue to be valid for this purpose.
- From 1 January 2027, Coventry Building Society will be named on the title deeds as the mortgage provider but there are no changes required from you for any existing mortgages. We’ll be writing to all existing customers, including mortgage customers, to make them aware of the transfer and what this means for them.
We’ve communicated to you and associated conveyancers first, but we’ll also let your clients know about the proposed transfer, confirming the same information above.
If you have any questions, please take a look at our broker FAQ document.
Will my BDM or contact methods change as part of the transfer?
No, this won’t be impacted by the transfer. To find your current BDM or contact methods, please use the relevant website as you would today.
Will my case or submission route change?
No, you’ll continue to submit applications for The Co-operative Bank via FOP and use your usual routes for Coventry Building Society/Godiva applications.
Will lending criteria change post-transfer?
No changes will happen as part of this legal entity change, but BAU policy changes may continue in future.
I’ve recently submitted a Decision in Principle, will the transfer affect the result of this?
No, the proposed transfer won’t affect the result of any Decision in Principles.
I’ve recently submitted a mortgage application with The Co-operative Bank, what does this mean for me?
Your application is still valid and does not need changing.
- If your clients’ mortgages complete before the 1 January 2027, they’ll complete as mortgages from The Co-operative Bank and transfer to the Society on 1 January 2026. Their offer documents, paperwork and deeds will still be valid. In all cases, we’ll update the Land Registry.
- If your clients’ mortgages complete after 1 January 2027, they’ll complete as mortgages from the Society. Their offers and other documents will continue to be valid for this purpose.
Will my clients’ documents be updated to reflect that the legal title is with Coventry Building Society from 1 January 2027?
No, your physical documents won’t be updated as part of the transfer process. All documents that have been given before 1 January 2027 will still be valid and do not need to be amended.
Do I need to be on Coventry Building Society’s panel to submit an application on the Bank’s platform?
No, you’ll continue to submit via FOP with your Bank registration.
Will the application process change as a result of this legal change?
The majority of the application process will remain unchanged.
However, from 24 August 2026 until 1 January 2027, the FOP application system will contain a new ‘tick box’ that you’ll need to complete. This will confirm that you’ve explained the change of legal entity to the applicant/s.
Will offers issued before 1 January 2027 still be valid after 1 January 2027?
Yes, they won’t be reissued and will still be valid post-transfer.
Is there an impact on existing mortgage customers that I’ve previously referred to the Bank for a mortgage?
No, existing mortgage terms (interest rate, balance, repayment type, term) remain unchanged as part of the transfer. We’ll be writing to all existing customers, including mortgage customers, to make them aware of the transfer and what this means for them.
Are there any changes to the mortgage contract?
No. As of the 1 January 2027, Coventry Building Society will be named on the title deeds as the mortgage provider but there are no changes required from you. We’ll make this change with Land Registry.
My clients mortgage product is up for renewal after the 1 January 2027. Does this mean they can choose from Society and Bank rates?
No, for the time being you will only be able to choose products from the original brand that your client took their mortgage with using the BAU switch processes.
Are there any changes to the mortgage fees and charges?
No, nothing will change in relation to fees and charges. If at any point they do change, you’ll be notified of this within the appropriate timescales and via the usual channels.
As a result of the transfer, who is the new legal entity that will have a charge on the property?
If the transfer takes place, the contract will now be with Coventry Building Society rather than The Co-operative Bank PLC from 1 January 2027.
Will account numbers or payment details change?
No, all existing account details and payment routes will continue to operate as usual.
Does the proposed transfer automatically transfer legal title to property and charges/encumbrances?
Yes, we don’t need you to do anything or make any changes.
Are any restrictions or notices required on title registers?
No, there are no restrictions or notices required.
How are existing charges or mortgages affected?
All charges and encumbrances will be transferred. We’ll make sure HM Land Registry and other records are adjusted accordingly.
Will new charge registrations be required?
No, all offer documents and other documentation both pre- and post-transfer are correct and no updates are required. Any existing mortgages will transfer to Coventry Building Society as new mortgagee from 1 January 2027.
What is the effective date of transfer for property purposes?
This is due to be 1 January 2027 (subject to court approval and associated timings).
Do we need to notify landlords, tenants or counterparties?
No, we’ll be contacting all existing customers to make them aware of the transfer and what this means.
Do I need to do anything either pre or post-transfer?
You’ll need to provide the information referred to below when registering any charges dated after 1 January 2027. Otherwise, we’ll update HM Land Registry and Companies House (if applicable) to make all other relevant changes. You don’t need to do anything else.
Will HM Land Registry accept what we’re submitting?
Yes, HM Land Registry will be notified of the transfer and there will be no changes needed.
However, when submitting any charges dated after 1 January 2027, for registration, you’ll need to confirm the title number involved and expressly inform the Registry that:
“it is a charge to which paragraphs 18 and 23 of the Scheme, sanctioned by to the Order of the High Court of Justice number [order number] dated [date of order], applies, and that it is not Excluded Business”.