Accord Mortgages is set to temporarily withdraw all products at 90% loan-to-value (LTV) as it looks to maintain service levels in the face of unprecedented demand.
Since re-entering the market in mid-May, the intermediary lender has seen higher than expected volumes of applications, so to manage demand and reduce the impact to service, the current range will be withdrawn at 8pm tonight (Monday 8 June) for a limited period.
Jeremy Duncombe, director of intermediary distribution at Accord Mortgages, said: “As one of the few lenders offering products at 90% LTV, we have seen a significant increase in applications since re-launching last month.
“Our service levels are something brokers know they can rely on, so to ensure we can maintain the standards expected of us, we have taken the difficult decision to temporarily withdraw the range.
“Our commitment to supporting brokers and their clients and our desire to lend is still as strong as ever and we look forward to re-entering the market as soon as service levels allow.”