"We don’t believe that products should be on sale where there is not a reasonable chance of completing"
On its website, Atom Bank said: "Government guidelines are urging buyers and sellers to delay moving, physical valuations and removals have largely stopped, and the Land Registry offices in some parts of the UK are closed or only processing a limited number of cases.
"We don’t believe that products should be on sale where there is not a reasonable chance of completing, and so we are regretfully making the decision to not reintroduce purchase and first-time buyer products until the wider context changes for the better."
The lender announced plans to reintroduce a range of remortgage products shortly, with a more streamlined process to help customers remortgage from their own home.
Atom is also reducing its standard variable rate from 4.00% to 3.50% from Friday 3rd April.
Atom's website asks all mortgage borrowers struggling with repayments as a result of Covid-19 to get in touch to discuss a range of options, which includes a payment break of up to three months.
