Lenders pull mortgage rates as markets digest sterling’s fall
Mortgage lenders have made a host of changes following the chancellor's mini-budget and the value of the pound falling to a record low against the dollar.
Halifax was the first lender to make significant changes and withdraw all of its arrangement fee products. Virgin Money and Clydesdale Bank promptly pulled all of their mortgages as well as Skipton Building Society.
Other lenders have also withdrawn either all or most of their mortgages including, Digital Mortgages, Platform, Coventry Building Society, Paragon and a host of other providers.
Aaron Strutt, product director at Trinity Financial, says: "For the moment there have not been changes announced by Santander, Barclays, NatWest and Nationwide, so there are options for borrowers.
"We need the other lenders to come back into the market otherwise they will receive too many applications and pull out."
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