All medium adverse products will be withdrawn on Friday 26 October, with all current applications needing to be submitted by 31 October.
Ian Whittaker, marketing director at Mortgages plc, said: “Continuing uncertainty in the capital markets means we have to reduce new business volumes whilst at the same time maintaining credit quality. Mortgages plc remains committed to the intermediary mortgage market and will continue to lend with a reduced product portfolio until confidence is restored once again in the credit markets.”
