Atom Bank pulls all mortgage products
Atom Bank has temporarily withdrawn all its remortgage, purchase and first-time buyer products.
In addition, the bank is reducing its standard variable rate from 4.00% to 3.50%, with effect from 3 April.
The decision to remove all its products from the market comes in response the government encouraging buyers and sellers to delay moving.
However, the bank will be reintroducing a range of remortgage products next week, which will offer a more streamlined process to help customers remortgage from the comfort of their own home, it said.
A spokesperson for Atom Bank, said: “We don’t believe that products should be on sale where there is not a reasonable chance of completing, and so we’re regretfully making the decision to not reintroduce purchase and first-time buyer products until the wider context changes for the better.”