At midday, according to an email received by a Newspage broker, TSB has just announced that, “on Thursday 1 June at 2pm, we’re withdrawing the following Residential products: Fixed Remortgage products.” Apparently it only applied to 3 Year Fixed Rates. You'll likely have received the email so any thoughts, whizz them across sharpish.

mortgages

TSB pulls fixed remo products from 2pm today

Pulling more rates with just two hours' notice is difficult for everyone. It feels like you can't even pop out for a coffee just in case more deals are pulled with such short notice. It might only be one product pulled, but that's twice this week the lender has given such short notice on a product withdrawal. More needs to be done for lenders to give sufficient notice to both clients and brokers. The regulator will need to look at this through the Consumer Duty lens, as it's certainly not in the Public Duty.

Justin Moy

Independent Mortgage and Protection Brokers, based in Essex, helping clients across the UK. Over 35 years in Financial Services, the last 17 years as a Mortgage Broker.

logo.jpg

logo

Sign of the times. That's all you can say.

Jonathan Burridge

I have over thirty years industry experience during which time I have been a lender and intermediary and have undertaken most roles from tea-boy to director. I have won industry awards and ridden the ups and downs of business ownership and the property finance market. I still learn everyday and take great joy from seeing businesses grow and customers smile. 

TSB pulls fixed remo products from 2pm today

2 responses from the Newspage community
Copy all

Justin Moy

Managing Director at EHF Mortgages

Jonathan Burridge

Founding Adviser at We Are Money

2 responses from the Newspage communityCopy all

2 responses from the Newspage community
Copy all