The Nottingham for Intermediaries has announced it is temporarily withdrawing its mortgage product range.
The society said it is aiming to support brokers and their clients with business already submitted, in order to bring service levels “back in line” to those that its broker network would expect.
The Nottingham head of intermediary sales, Nikki Warren-Dean, indicated that the lender has received an “unprecedented” level of applications recently, and highlighted the importance of managing those volumes in a timely manner for brokers and their clients.
“This short-term measure will allow us to work through all outstanding cases and provide as many positive outcomes as possible,” Warren-Dean commented.
“We always aim to give our brokers as much notice as we are able to when implementing product range changes, but in this fast-moving climate it hasn’t been possible on this occasion and these changes take place with immediate effect.
“Helping people onto, and along, the property ladder has been an important part of our DNA for over 170 years and that ethos hasn’t changed. We will return to the mortgage marketplace with a range of competitively priced products as soon as possible and communicate product news to brokers in the first instance.”
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