West Brom BS withdraws remortgage product range

West Bromwich Building Society has withdrawn its remortgage product range in response to the coronavirus outbreak.

Related topics:  Mortgages
Rozi Jones
24th March 2020
West Bromwich Building Society
"This decision will enable us to maintain critical services to both you, your clients and existing members of the Society during this challenging period. "

The UK's 7th largest building society says the move will help it to remain critical services to brokers and clients, and hopes to review its operational capacity over the coming weeks.

The withdrawal includes all fixed rate, interest-only and shared equity products, as well as assisted mortgage fixed rate products for purchase and remortgage.

In a statement on its intermediary website, the Society said: "In light of the recent developments concerning the coronavirus which presents a number of challenges across our industry and wider society, from close of business today, Monday 23 March, we have made the decision to take the precautionary step to reduce the number of products available in our portfolio. This includes the withdrawal of our remortgage product range for the time being.

"This decision will enable us to maintain critical services to both you, your clients and existing members of the Society during this challenging period. We will continue to review our operational capacity over the coming weeks and hope that we will return to business as usual as soon as possible.

"Thank you for your continued support in this difficult and challenging time."

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