Vida said that due to “exceptional and rapidly changing market conditions”, it would be withdrawing all new business and product transfer deals at 11.59pm on 24 March and relaunching a new range on 25 March.
It noted that it was not giving advisers a lot of notice, but said it would continue to deliver its usual “excellent service”.
Cases must reach the application received stage by the deadline to secure current rates.
Saffron Building Society announced it would be repricing all of its retention products on 26 March, giving brokers until 2pm on 25 March to submit applications for outgoing products.
Dudley Building Society will be temporarily removing all fixed rates across its residential and buy-to-let (BTL) products from 6pm on 24 March, and said it was “working hard” to bring back an updated range “as soon as possible”.
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Pepper Money announced rate increases, with changes coming in on 25 March.
Accord Mortgages said it would introduce higher pricing for BTL product transfers, with two-year rates rising by between 0.22% and 0.39% and three-year rates rising by 0.34%. Further, its five-year rates will go up by between 0.22% and 0.46%.
Its current range will be withdrawn at 5pm on 25 March, with new rates launching on 26 March.
Finally, Molo said it would be lowering tracker rates, with non-resident two-year trackers now from 5.44% and expat two-year trackers from 5.24%. It also announced a new fee structure for tracker products.
As of this morning and according to Moneyfacts, the number of mortgages on the market had dwindled by more than a fifth, with the company saying there seemed to be “no rest in sight for more upheaval to the mortgage market”.
