
"Following the withdrawal of some lenders from the 90% LTV space, unfortunately we’ll be temporarily suspending our 90% LTV product range at 3pm today, 9th June."
In a note on its intermediary website, Furness said: "Following the withdrawal of some lenders from the 90% LTV space, unfortunately we’ll be temporarily suspending our 90% LTV product range at 3pm today, 9th June.
"It’s certainly our intention to process DIPs and applications received before this time however we’ll continue to assess our operational capacity throughout the day to make sure we can provide our usual great service to you.
"Thanks for your patience and we hope to be back in this space before too long."
Yesterday, Virgin Money, Clydesdale Bank and Accord Mortgages announced that they had temporarily withdrawn their 90% LTV ranges.
Virgin and Clydesdale, both owned by CYBG, have withdrawn all 90% LTV products for purchase, remortgage and new build to "protect the service for existing applications in our pipeline". Virgin and Clydesdale will continue to offer product transfer deals up to 90% LTV.
In a statement, Virgin Money said: "Following a strong increase in demand, we are temporarily withdrawing our 90% LTV purchase, remortgage and new build products in order to protect our service to existing customers and applications. Our 85% LTV products will continue to support customers with small deposits, and we hope to be back in the 90% LTV market soon."
Yesterday, Accord Mortgages temporarily withdrew all products at 90% LTV to maintain service levels after seeing "higher than expected volumes of applications".