After announcing that 20 August 2007 would see Infinity launch a new range of mortgages, the lender has issued a further statement postponing this launch.
Citing the turbulence in global financial markets leading to the widening cost of debt in the capital markets as a major factor in this decision, Infinity has apologised to affected intermediaries and said that they plan to return to the market with new funding options once global conditions stabilise.
Alongside postponing the launch of the product range, Infinity has suspended offer production. They have secured funding for all offered cases, but at the point of offer expiry have noted that there may not be a substitute product available.
Inifinty added that they are unable to commit with certainty that they will be able to fund applications not offered.
In a bid to minimise the impact this will have upon all affected parties, Infinity has secured products with other providers, with BDMs able to advise upon the closest match product.
Anyone with questions is advised to call 0845 367 3670 (option 1) for further information.
