Ipswich Building Society has withdrawn all of its buy-to-let, holiday let and expat products with immediate effect.
The lender says it has done so in order to maintain service levels and response times after receiving a record number of applications.
The society previously withdrew its standard and expat buy-to-let five-year fixed rates on June 18 and then its expat and holiday let buy-to-let two-year fixes on June 30.
It had continued to offer a handful of deals, but says its products were “attracting above the desired number of applications”.
The lender will still accept decision in principles on any of the withdrawn products until 5pm tomorrow, Tuesday July 7.
It says that where a DIP has already been submitted for these deals, there is no deadline to submit a fully packaged mortgage application.
Ipswich chief executive Richard Norrington says: “This is a temporary measure to steady applications and we will be looking to come back into the buy-to-let market as soon as possible.
“We will also prioritise reinstating 90 per cent LTV deals as we are very aware of the lack of choice for buyers with smaller deposits.”
Ipswich continues to offer purchase and remortgage products for expat residential, self build and standard residential, including later life deals for applicants aged 50 and over.
