Suffolk Building Society has become the latest lender to say it will temporarily halt mortgage applications due to high demand, with immediate effect.

The mutual says it “has been closely monitoring the mortgage market, which is under increasing pressure, and after careful consideration the decision has been taken as a necessary measure; in recent weeks the society has received extremely high levels of business which has resulted in service levels exceeding the target timescales it sets itself”.

Last Friday (4 August), Saffron Building Society also said it would temporarily halt almost all new mortgage applications, because it was unable to cope with high levels of demand.

Saffron said the only products not affected by the “pause” would be its self-build mortgage range, as well as its summer deal launched in July. It did not say when mortgage applications would reopen.

Suffolk Building Society says its brokers have been given extended deadlines for submitting cases already in progress, with decisions in principle required to be submitted on 9 August by 5pm, and full mortgage applications due on 16 August by 5pm.

The business – which has 60,000 members, over 70,000 savings accounts and 6,000 mortgage accounts – say the move “is a temporary move to enable the Society to clear its backlog”. It also did not say when mortgage applications would reopen.

It says: “The team is working hard to process its existing pipeline with a view to getting all cases to offer and completion, as quickly as possible.”

The mutual adds that it has contacted all registered brokers to inform them of the application deadlines and its helpdesk team will be available to assist with enquiries and updates.