4 Mortgage Lenders Pause New Applications
Published / Last Updated on 09/08/2022
The Cambridge Building Society, the Coventry Building Society, the Saffron Building Society and the Suffolk Building Society have in the last few days and weeks temporarily suspended taking on new mortgage applications.
They all sight huge mortgage application volumes as people rush to remortgage to try and protect from future interest rate rises to curb inflation.
The facts are that none of these lenders want to offer poor client service by accepting huge volumes of applications that then create backlogs.
Comment
Expect more mortgage lenders to follow suit as the stampede to lock in mortgage rates continues.