OSB Group temporarily withdraws fixed rate mortgage products

In a statement, the specialist lending group said that the decision was due to ongoing market uncertainty.

Adrian Moloney (pictured), OSB group intermediary director, said: “Due to the continued market interest rate volatility, OSB Group, in line with many other lenders, has taken the difficult decision to temporarily withdraw all of our existing fixed rate mortgage products.”

However, the group has confirmed that it will return to the fixed rate market with a new product range early next week and that the postponement would allow the company time to assess its options.

Moloney said: “This [withdrawal] will give us the opportunity to reassess our proposition, service our existing pipeline and ensure our product ranges are priced appropriately for when we relaunch our replacement fixed rate mortgage range on Tuesday 4 October.”

He also acknowledged that this was a difficult situation for intermediaries and customers alike and noted that “we’re all in this together”.

He said: “We understand that this is an unsettling time for brokers who’re likely to be dealing with anxious clients worried by recent developments. We remain committed to doing everything we can to make sure they’ve got all the support they need to help get them through this period of uncertainty.”