The firm cited the on-going volatility and limited access to capital markets funding as to why it has removed its range.
Vida Homeloans has taken the decision to pull its entire mortgage range.
The firm cited the on-going volatility and limited access to capital markets funding as to why it has removed its range.
It added that the decision is also to protect the long-term future of its business, preserve jobs and support existing customers by withdrawing selected new business products from the market.
Furthermore, Vida Homeloans said it has been advised by its valuers that the firm is unable to conduct physical valuations, which therefore means it is unable to accept any new mortgage applications for the time being
Any valuation due to be carried out on a current mortgage application will now not take place until further notice, and any pre-valuation cases will now be withdrawn.
A spokesperson for Vida Homeloans said: “As the COVID-19 situation evolves, businesses across the country have had to adapt to the current situation in order to protect the wellbeing of their employees and customers.
“We apologise for any inconvenience this may cause but hope that our intermediaries and their clients understand the issues which we are currently facing in light of unprecedented events and we will keep them updated as the situation changes.”
