Precise Mortgages and OSB freeze new applications

Jake Carter

March 30, 2020

Precise Mortgages and OneSavings Bank (OSB) have frozen new applications due to the coronavirus pandemic.

This action has also been taken for Kent Reliance and InterBay, brands of OSB.

The firms have removed access to its online applications for all product types, and all applications that have not been progressed to offer will be put on hold.

All access to their online application systems will be removed from 27 March according to statements on all three lender sites.

A statement by Precise Mortgages states: “Due to the unprecedented demand from our existing borrowers regarding payment holidays, latest government advice and the current situation with valuations, we have taken the decision to temporarily suspend new applications for all of our product lines and divert our resources to support our borrowers during this challenging time.

“To facilitate this, we will be removing access to our online application system from Friday 27 March.

“Applications that have not progressed to offer will be paused and placed on hold until further notice.

“Offered cases will continue as normal.”

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