The lender will stop accepting new applications from the end of next month and mortgage brokers will be asked to submit any new cases to Barclays’ intermediary brand Woolwich from March onwards.
The lender confirmed to Mortgage Solutions that all mortgages still being processed on that date would be completed but that no new business would be accepted from that date.
A spokesperson for the bank told Mortgage Solutions: “ING Direct will stop accepting new mortgage applications from February 28.
“All mortgages still in the pipeline on that date will be taken through to completion.”
The UK arm of ING Direct was sold to Barclays last year and is expected to transfer all of its business over to the bank by March.
The deal will see Barclays take control of ING Direct mortgage book of £5.6bn and deposits of £10.9bn. ING’s 750 staff and 1.5m customers will also transfer directly to Barclays as part of the takeover.
