The lender offers a set level of funding each day from which brokers can reserve products, but has chosen to restrict the available amount to maintain service standards.
A spokewoman for Woolwich said that the move was “very temporary” and it expects the restriction to last “a few days” as it works to deal with the increase in business.
Interest in its mortgages has grown as they have become increasingly competitive as Woolwich’s competitors have chosen to increase mortgage rates.
The spokeswoman said: “We have reduced the tranche very temporarily to control volumes, because there has been a surge in interest for our products. We don’t want this increase to impact our service or be forced to withdraw products, and the reduction is only expected to last for a few days.
“Since our competitors have repriced, it has driven people to competitive products and Woolwich is among the most competitive. The increased volumes are not unmanageable, but we don’t want anything to compromise our service levels.”
