Mortgages

Fleet halts lending amid funding shortage

In a note to brokers, Fleet confirmed that it was withdrawing its entire range today with immediate effect.

Rozi Jones
|
8th January 2019
Bob Young Fleet
"We have therefore had to pull the current product range while we wait for the next funding line to be made available. "

Fleet Mortgages has withdrawn its product range while it waits for another funding line to be made available.

In a note to brokers, Fleet confirmed that it was withdrawing its entire range today with immediate effect.

The statement reads: "We have recently completed £400m of mortgage loans with one of the world's largest asset managers. Due to the launch of our new products in December this tranche of funding was filled much quicker than we initially anticipated.

"We have therefore had to pull the current product range while we wait for the next funding line to be made available. We will keep you fully informed as to when the new product range will be launched."

Fleet added that it anticipates the new funding line will be sorted shortly and expects the new product range to be launched before the end of January.

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