You are here: Home - News -

Axis Bank UK to halt buy-to-let lending

by:
  • 11/02/2020
  • 0
Axis Bank UK to halt buy-to-let lending
Axis Bank UK has announced it will suspend its buy-to-let mortgage lending following a review of its operations.

 

The bank emailed brokers to tell them it would halt new lending from Friday 14 February at 5:30 pm.

New mortgage applications will be accepted up until this deadline.

The last day for the submission of a decision in principle is Wednesday 12 February and applications must be submitted as soon as an accepted decision is received.

In the broker note, Axis said existing mortgage borrowers would not be affected by its decision.

“The bank will as always ensure that appropriate standards of transparency and fairness are maintained in dealing with all its customers, and we will keep you informed of further developments following the completion of the strategic review,” the note read.

Axis Bank UK is the UK subsidiary of one of India’s largest private sector banks. It launched its buy-to-let range in 2015 aimed at professional landlords with properties in London and the South East.

Axis Bank UK has been contacted for comment.

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
Nearly 2,000 Help to Buy customers in arrears, government reveals

Some 1,983 Help to Buy customers, 5.8 per cent who are due to be paying interest fees on equity loans,...

Close