Banks and building societies are withdrawing some of their mortgages from sale after the Government’s mini-budget triggered massive market turmoil.
North based Virgin Money, Halifax and Skipton are among lenders which have so far taken some of their products off the market, in anticipation of a further interest rate rise from the Bank of England. Scottish Building Society, Paragon, Leek United Building Society and The Nottingham for Intermediaries have also pulled deals.
The move follows action already taken by Newcastle-based Virgin Money, which announced changes to its mortgage variable revert rates, following the 0.5 per cent rise in the base rate by the Bank of England in August, affecting mortgages for Virgin Money Group, which includes Clydesdale and Yorkshire Bank.
