Metro Bank is temporarily withdrawing all residential mortgage products at 60 per cent, 85 per cent and 90 per cent loan to value (LTV) at 5:30pm this evening.
The lender announced the change in a communication to brokers today.
Lenders across the market have been under significant pressure as a vibrant market additionally fuelled by the stamp duty cut and coupled with workplace coronavirus-related restrictions is limiting capacity.
As a result, many are being forced to withdraw products at short notice or make significant rate increases.
Metro Bank director of mortgage distribution Charles Morley (pictured) told Mortgage Solutions: “These temporary changes will ensure that we keep delivering the high standard of service that we pride ourselves on providing, both for our customers and brokers.”
