Mortgages

West Brom latest lender to halt mortgage applications

The Society is not accepting any new mortgage applications or further advances.

Rozi Jones
|
25th March 2020
The west Brom 2

West Bromwich Building Society has stopped new mortgage lending, just a day after it withdrew its remortgage product range in response to the coronavirus outbreak.

On its intermediary site, the The UK's 7th largest building society said it will now "only be able to offer essential services", meaning it will not accept any new mortgage applications or further advances.

The Society will process applications where an offer has already been issued and deal with product transfers as normal. Any applications where an offer has not been made will be delayed.

West Brom says it hopes to review its operational capacity over the coming weeks.

This week, specialist lenders Together and Vida Homeloans announced that they are stopping new mortgage lending, while Barclays has significantly reduced its range, removing most products at above 60% LTV across its residential and buy-to-let ranges.

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