Gatehouse Bank temporarily withdraws buy-to-let and home finance products

Gatehouse Bank has become the latest lender to temporarily withdraw its product ranges due to unprecedented demand.

Related topics:  Mortgages
Rozi Jones
17th August 2022
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The lender has withdrawn all buy-to-let and Home Purchase Plan finance products from sale, and is not currently accepting registrations for new intermediaries.

Any valid DIPs must proceed to a fully packaged application, including the customer's signature, and be received via Gatehouse's online application system by 11.59pm on Thursday 25th August. Cases received that are not fully packaged or remain unsigned after this date, will not be progressed.

In a statement on its intermediary website, Gatehouse Bank said: "Whilst we understand that this will cause some inconvenience for you and your customers, we believe that these changes are the right thing to do, in order to manage the service levels we are able to provide.

"We will continue to manage all existing cases as quickly as possible and your BDM remains available to assist you and discuss any queries regarding the changes outlined above."

A number of lenders have temporarily paused new lending in recent weeks due to high demand.

Suffolk and Saffron building societies have both suspended new mortgage applications due to high volume levels.

Platform, the intermediary mortgage brand of Co-operative Bank, withdrew its range last week before relaunching selected residential and buy-to-let products on Monday.

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