The lender outlined that all decisions in principles (DIPs) have been paused, and it will only accept applications where the DIP has been accepted prior to 7 December.

The decision to freeze new applications stems from the building society wanting to maintain its service levels and quality.

Tim Vigeon, head of lending at Buckinghamshire Building Society, said; “We pride ourselves on offering and maintaining exceptional service standards.

“Our award winning product range is perhaps the widest of any small society, serving first time buyers, movers, landlords, lending into and in retirement, self build and all points in between.

“Our individual human underwriting approach is time consuming but ensures that we can offer our products to many borrowers who are rejected by the standard ‘computer says no’ approach.

“We look forward to re-opening for new DIPs again in the new year”.