Vida Homeloans withdrew its full product range to reprice yesterday afternoon, giving brokers around two hours’ notice, while Foundation withdrew all its residential products and some buy-to-let deals.

In an email to intermediaries at about 3pm, Vida said: “Due to exceptional and rapidly changing market conditions, we will be withdrawing our full, new business mortgage product range at 5pm today, Tuesday 17th March.

“We will then relaunch a new range of fixed rate products the following morning, Wednesday 18th March.”

Vida added: “We always aim to provide advance notice; however, due to the circumstances, this isn’t possible on this occasion and we apologise for any inconvenience this may cause.”

It came amid product withdrawals and rate hikes from many other lenders.

Foundation Homeloans wrote to brokers at a similar time yesterday afternoon to say it would be withdrawing all residential rates and some buy-to-let deals at 5.30pm to reprice, with new rates launched this morning.

Furness Building Society also emailed brokers around 3pm to give two hours’ notice of selected residential product withdrawals.

These included a number of purchase, remortgage fixed rates at 85% to 95% LTV.

Barclays, The Mortgage Works, UTB, Saffron, Pepper Money and Leeds Building Society were among other lenders to announce rate increases.