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Buckinghamshire BS halts new mortgage applications to deal with demand

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  • 08/12/2020
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Buckinghamshire BS halts new mortgage applications to deal with demand
Buckinghamshire Building Society has temporarily suspended new applications and decisions in principle (DIPs) until the new year.

 

To get a handle on “unprecedented” levels of demand, the lender will now only be accepting applications where the DIP has been accepted prior to 7 December.

The society said it had experienced “very high demand” across its product range so had decided to prioritise cases already in the pipeline.

Operational and underwriting resources will be stretched over the Christmas period, the lender added.

And a temporary suspension of new enquiries over the holiday period is the best way to maintain service levels.

Tim Vigeon, head of lending at Buckinghamshire Building Society (pictured), said: “We pride ourselves on offering and maintaining exceptional service standards.

“Our award-winning product range is perhaps the widest of any small society, serving first-time buyers, movers, landlords, lending into and in retirement, self build and all points in between.

“Our individual human underwriting approach is time consuming but ensures that we can offer our products to many borrowers who are rejected by the standard ‘computer says no’ approach. We look forward to re-opening for new DIPs again in the new year.”

 

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